AFC Gamma Inc. (AFCG) Q3 Earnings Beat Estimates

Core Insights - AFC Gamma Inc. reported quarterly earnings of $0.35 per share, exceeding the Zacks Consensus Estimate of $0.34 per share, but down from $0.49 per share a year ago, indicating an earnings surprise of 2.94% [1] - The company posted revenues of $10.46 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 27.95% and down from $16.81 million year-over-year [2] - The stock has underperformed, losing about 21.5% since the beginning of the year compared to the S&P 500's gain of 25.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.36 on revenues of $14.86 million, and for the current fiscal year, it is $1.75 on revenues of $62.79 million [7] - The estimate revisions trend for AFC Gamma is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The REIT and Equity Trust industry, to which AFC Gamma belongs, is currently in the top 50% of over 250 Zacks industries, indicating a favorable outlook as top-ranked industries outperform the bottom 50% by more than 2 to 1 [8]