Franklin BSP (FBRT) Q2 Earnings and Revenues Miss Estimates

Company Performance - Franklin BSP (FBRT) reported quarterly earnings of $0.31 per share, missing the Zacks Consensus Estimate of $0.41 per share, and down from $0.66 per share a year ago, representing an earnings surprise of -24.39% [1] - The company posted revenues of $50.89 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 8.32%, and down from $84.03 million year-over-year [2] - Over the last four quarters, Franklin BSP has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Market Comparison - Franklin BSP shares have increased approximately 3.7% since the beginning of the year, while the S&P 500 has gained 14% [3] - The current consensus EPS estimate for the upcoming quarter is $0.42 on revenues of $56 million, and for the current fiscal year, it is $1.66 on revenues of $221.8 million [7] Industry Outlook - The REIT and Equity Trust industry, to which Franklin BSP belongs, is currently in the top 33% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can significantly impact stock performance [5][8]