First American Financial Q3 2024 Adj. EPS $1.34 Beats $1.14 Estimate, Sales $1.406B Miss $1.474B Estimate
Portfolio Pulse from Benzinga Newsdesk
First American Financial (NYSE:FAF) reported Q3 2024 earnings per share of $1.34, surpassing the expected $1.14, marking a 17.54% beat. However, sales were $1.406 billion, missing the $1.474 billion estimate and showing a 5.06% decline from the previous year.
October 23, 2024 | 8:19 pm
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First American Financial's Q3 2024 earnings per share exceeded expectations, but sales fell short. The EPS of $1.34 beat the $1.14 estimate, while sales of $1.406 billion missed the $1.474 billion forecast.
The positive earnings surprise of 17.54% is a strong indicator of profitability, which is typically favorable for stock prices. However, the sales miss and year-over-year decline in revenue could offset this positive sentiment, leading to a neutral short-term impact.
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