Flushing Financial Surprises Investors with Strong Quarterly Earnings
Quarterly Performance Exceeds Expectations
Flushing Financial (FFIC) reported quarterly earnings of $0.26 per share, surpassing the Zacks Consensus Estimate of $0.18 per share. This marks a decrease from earnings of $0.31 per share a year earlier, adjusted for non-recurring items.
This earnings report resulted in an earnings surprise of 44.44%. In the previous quarter, the company had also met expectations with an actual earnings of $0.18 per share, resulting in no surprise.
Revenue Context and Recent Trends
During the quarter ending September 2024, Flushing Financial achieved revenues of $51.88 million, outperforming the Zacks Consensus Estimate by 9.34%. Last year’s revenues for the same quarter stood at $47.9 million. The company has exceeded revenue expectations three times in the last four quarters.
The future performance of the stock will largely depend on insights shared during the upcoming earnings call. Investors will be keen to hear management’s views on what these results could mean for the company’s future.
Since the start of this year, Flushing Financial’s shares have dropped about 8.8%, contrasting sharply with the S&P 500’s rise of 21.5%.
Future Outlook for Flushing Financial
As the year progresses, investors are left wondering about the future of Flushing Financial’s stock. Determining factors for the stock’s performance include the company’s earnings outlook.
Research indicates a connection between stock movements and revisions in earnings estimates. Investors can follow these revisions or utilize tools like the Zacks Rank, known for effectively analyzing earnings estimates.
Currently, Flushing Financial holds a Zacks Rank of #3 (Hold), suggesting the stock is expected to perform in line with the market. The immediate future will clarify how the earnings outlook evolves.
For the upcoming quarter, the consensus EPS estimate is $0.19 on anticipated revenues of $48.35 million, while the current fiscal year expects EPS of $0.69 on $188.7 million in revenue.
Industry performance also influences stock prospects. The Financial – Savings and Loan sector currently ranks in the top 23% of over 250 Zacks industries, underscoring its strength. Historical data shows that high-ranked industries tend to outperform their lower-ranked counterparts significantly.
Upcoming Reports in the Sector
In the broader Zacks Finance sector, Capital Southwest (CSWC) has yet to report its results for the quarter ending September 2024, with updates expected on October 28.
CSWC is projected to report earnings of $0.66 per share, reflecting a year-over-year decline of 4.4%. The consensus EPS estimate has remained stable over the last month.
Revenue for Capital Southwest is anticipated to reach $49.79 million, a 16.4% increase compared to the previous year’s quarter.
Considering Investment in Flushing Financial
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Flushing Financial Corporation (FFIC): Free Stock Analysis Report
Capital Southwest Corporation (CSWC): Free Stock Analysis Report
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
