First Bank Q3 2024 Adj. EPS $0.34 Misses $0.40 Estimate, Sales $32.573M Beat $31.554M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Bank (NASDAQ:FRBA) reported Q3 2024 earnings per share of $0.34, missing the $0.40 estimate, but sales of $32.573M exceeded the $31.554M estimate. EPS decreased by 15% year-over-year, while sales increased by 13.15%.
October 23, 2024 | 8:45 pm
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NEGATIVE IMPACT
First Bank's Q3 2024 earnings per share of $0.34 missed expectations by 15%, while sales of $32.573M exceeded estimates by 3.23%. The EPS decline and sales growth present mixed signals for investors.
The miss on EPS is significant as it was 15% below expectations and also represents a 15% decline from the previous year, which could negatively impact investor sentiment. However, the sales beat and year-over-year growth in sales provide a positive aspect. Overall, the negative EPS surprise is likely to have a more immediate impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100