Fomento Economico Q3 2024 GAAP EPS $0.84 Misses $1.06 Estimate, Sales $10.402B Beat $10.143B Estimate
Portfolio Pulse from Benzinga Newsdesk
Fomento Economico (NYSE:FMX) reported Q3 2024 earnings per share of $0.84, missing the consensus estimate of $1.06 by 20.75%. However, sales were $10.402 billion, surpassing the $10.143 billion estimate, despite a 5.64% decrease from last year's $11.024 billion.
October 28, 2024 | 1:07 pm
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NEGATIVE IMPACT
Fomento Economico's Q3 2024 earnings per share fell short of expectations, but sales exceeded estimates. The sales figure, however, represents a year-over-year decline.
The significant miss on EPS suggests potential concerns about profitability, which could negatively impact the stock price. However, the sales beat provides a positive note, though the year-over-year decline in sales tempers this optimism.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100