First Commonwealth Q3 2024 Adj. EPS $0.31 Misses $0.36 Estimate, Sales $121.555M Beat $119.374M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Commonwealth reported Q3 2024 earnings per share of $0.31, missing the $0.36 estimate, but sales of $121.555M beat the $119.374M estimate. EPS decreased by 20.51% from last year, while sales slightly decreased by 1.09%.
October 29, 2024 | 9:04 pm
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NEGATIVE IMPACT
First Commonwealth's Q3 2024 earnings per share missed estimates, but sales exceeded expectations. The EPS decline of 20.51% from last year may concern investors, despite the sales beat.
The earnings per share (EPS) miss is significant as it was below analyst expectations by 13.89%, which is likely to negatively impact investor sentiment. The year-over-year decline in EPS by 20.51% further adds to the negative outlook. Although sales exceeded expectations, the slight decrease from last year may not be enough to offset the negative impact of the EPS miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100