Portman Ridge Finance Q1 2024 GAAP EPS $0.67 Misses $0.72 Estimate, Sales $16.526M Miss $17.716M Estimate
Portfolio Pulse from Benzinga Newsdesk
Portman Ridge Finance (NASDAQ:PTMN) reported Q1 2024 GAAP EPS of $0.67, missing the $0.72 estimate, and sales of $16.526M, below the $17.716M estimate. This represents a 24.72% decrease in earnings and an 18.70% decrease in sales from the same period last year.
May 08, 2024 | 10:08 pm
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NEGATIVE IMPACT
Portman Ridge Finance's Q1 2024 earnings and sales missed estimates, with a significant decrease compared to last year.
Missing both earnings and sales estimates, especially with a notable year-over-year decrease, typically leads to negative investor sentiment in the short term. This could result in downward pressure on PTMN's stock price as the market adjusts to the lower-than-expected performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100