Federated Hermes Q3 2024 GAAP EPS $1.06 Beats $0.91 Estimate, Sales $408.456M Miss $409.260M Estimate
Portfolio Pulse from Benzinga Newsdesk
Federated Hermes reported Q3 2024 earnings per share of $1.06, surpassing the analyst estimate of $0.91. However, their sales of $408.456 million slightly missed the expected $409.260 million. This represents a 1.44% increase from the previous year's sales.
October 24, 2024 | 8:29 pm
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Federated Hermes reported better-than-expected Q3 2024 earnings per share of $1.06, beating the consensus estimate of $0.91. However, sales slightly missed expectations at $408.456 million compared to the $409.260 million estimate.
The significant beat on EPS suggests strong profitability, which is positive for the stock. The slight miss on sales is less concerning given the overall earnings beat. The market is likely to react positively to the earnings beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100