First BanCorp Q2 2024 Adj EPS $0.46 Beats $0.41 Estimate, Sales $199.628M Miss $201.414M Estimate
Portfolio Pulse from Benzinga Newsdesk
First BanCorp (NYSE:FBP) reported Q2 2024 adjusted EPS of $0.46, beating the $0.41 estimate, but sales of $199.628M missed the $201.414M estimate.
July 23, 2024 | 11:05 am
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First BanCorp reported Q2 2024 adjusted EPS of $0.46, beating the analyst estimate of $0.41 by 12.2%. However, sales of $199.628M missed the $201.414M estimate by 0.89%.
The significant EPS beat is likely to have a positive impact on the stock price in the short term, despite the slight miss in sales. Investors often prioritize earnings over revenue, especially when the earnings beat is substantial.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100