Benzinga | Jul 22, 2021 10:55AM EDT

Earnings Outlook For First BanCorp

First BanCorp (NYSE:FBP) announces its next round of earnings this Friday, July 23. Here is Benzinga's look at First BanCorp's Q2 earnings report.

Net Income, Earnings, And Earnings Per Share

Earnings and EPS are useful metrics of profitability. Total earnings also known as net income is equal to total revenue minus total expenses. Dividing net income by the total number of shares outstanding yields EPS.

Earnings And Revenue

Wall Street expects EPS of $0.26 and sales around $178.69 million. First BanCorp EPS in the same period a year ago totaled $0.1. Revenue was $135.21 million.

Why Analyst Estimates And Earnings Surprises Are Important

Analysts who cover this company will publish forward-looking estimates of its revenue and EPS each quarter. Averaging together every EPS and revenue prediction that each analyst makes about a company in a quarter yields the "consensus estimates." A company posting earnings or revenue above or below the consensus estimate is known as an "earnings surprise" and may move the stock by a considerable margin.

If the company were to report earnings in line when it publishes results Friday, quarterly profit would be up 160.0%. Revenue would be up 32.16% from the same quarter last year. Here is how the company's reported EPS has stacked up against analyst estimates in the past: Quarter Q1 2021 Q4 2020 Q3 2020 Q2 2020EPS Estimate 0.24 0.21 0.12 0.06EPS Actual 0.31 0.27 0.10 0.10Revenue Estimate 179.48 M 180.12 M 152.74 M 139.41 MRevenue Actual 176.26 M 177.77 M 148.70 M 135.21 M

Want Real-Time Earnings Calendar Updates?

Benzinga consistently updates its earnings calendars to stay up-to-date with the latest company earnings reports. Check out the full earnings calendar list updated in real-time by following this link.

Stock Performance

Shares of First BanCorp were trading at $11.95 as of July 21. Over the last 52-week period, shares are up 104.66%. Given that these returns are generally positive, long-term shareholders are probably satisfied going into this earnings release.

Do not be surprised to see the stock move on comments made during its conference call. First BanCorp is scheduled to hold the call at 10:00:00 ET and can be accessed here.