First Citizens BancShares Q2 2024 Adj EPS $50.87 Beats $44.78 Estimate, Sales $2.300B Miss $2.328B Estimate
Portfolio Pulse from Benzinga Newsdesk
First Citizens BancShares (NASDAQ:FCNCA) reported Q2 2024 adjusted EPS of $50.87, beating the $44.78 estimate, but sales of $2.300 billion missed the $2.328 billion estimate. EPS decreased by 3.29% YoY, while sales increased by 17.29% YoY.
July 25, 2024 | 10:40 am
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First Citizens BancShares reported Q2 2024 EPS of $50.87, beating estimates by 13.6%, but sales of $2.300 billion missed estimates by 1.22%. EPS decreased by 3.29% YoY, while sales increased by 17.29% YoY.
The beat on EPS is a positive indicator, suggesting better-than-expected profitability, which is likely to have a positive short-term impact on the stock price. However, the miss on sales and the YoY decrease in EPS could temper the enthusiasm, leading to a mixed but overall positive short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100