First BanCorp. (FBP) has reported its fourth-quarter earnings, surpassing Wall Street's predictions. The company's net income for this period was $75.7 million, translating to $0.46 per share, matching last year's figures of $79.5 million or $0.46 per share.
When excluding certain items, First BanCorp. recorded adjusted earnings of $75.7 million, or $0.46 per share. This performance exceeded the average analyst forecast of $0.41 per share, which typically does not account for one-time items.
Revenue for the quarter saw an increase of 4.9%, reaching $241.5 million compared to $230.3 million in the previous year.
Quick overview of First BanCorp.'s earnings according to GAAP:
- Earnings: $75.7 million compared to $79.5 million in the prior year.
- Earnings Per Share (EPS): Consistent at $0.46 year over year.
- Revenue: Increased to $241.5 million from $230.3 million last year.
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