Premier Financial (PFC) Q2 Earnings and Revenues Miss Estimates

Core Insights - Premier Financial reported quarterly earnings of $0.45 per share, missing the Zacks Consensus Estimate of $0.50 per share, and down from $0.68 per share a year ago [8] - The company posted revenues of $61.3 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3%, and a significant decline from $107.34 million year-over-year [2] - The current consensus EPS estimate for the upcoming quarter is $0.52 on revenues of $64.55 million, and for the current fiscal year, it is $2.03 on revenues of $255.5 million [5] Company Performance - Premier Financial has underperformed the market with a year-to-date share price increase of about 5.7%, compared to the S&P 500's gain of 13.2% [3] - Over the last four quarters, the company has surpassed consensus EPS estimates two times [9] - The stock currently holds a Zacks Rank of 3 (Hold), indicating it is expected to perform in line with the market in the near future [12] Industry Context - The Banks - Northeast industry, to which Premier Financial belongs, is currently in the top 15% of over 250 Zacks industries, suggesting a favorable outlook [13] - The performance of Premier Financial's stock may be influenced by the overall industry outlook and trends in earnings estimate revisions [4][11]