FibroGen Q1 2024 GAAP EPS $(0.33) Misses $(0.31) Estimate, Sales $55.902M Beat $36.666M Estimate
Portfolio Pulse from Benzinga Newsdesk
FibroGen (NASDAQ:FGEN) reported Q1 2024 earnings with a GAAP EPS of $(0.33), missing the $(0.31) estimate, but sales of $55.902M exceeded the $36.666M forecast. This represents a significant improvement over the previous year, with a 59.26% decrease in losses and a 54.59% increase in sales.
May 06, 2024 | 8:19 pm
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FibroGen reported a Q1 2024 GAAP EPS of $(0.33), missing estimates, but sales of $55.902M exceeded expectations, indicating strong revenue growth.
While the EPS miss might concern some investors, the substantial beat on sales forecasts and the significant year-over-year growth in both sales and reduced losses are likely to be viewed positively. The mixed results could lead to neutral short-term stock price movement as investors weigh the implications of revenue growth against the earnings miss.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100