trending Market Intelligence /marketintelligence/en/news-insights/trending/np1rHWsRCDStIJQovbH43g2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

First Resources profit misses consensus by 88.2% in Q1

Blog

What’s the Bottom Line: Credit Impact of COVID-19 on US Municipals

Blog

Banking Essentials Newsletter - February Edition, Part 2

Podcast

Episode 1: Origins of 451 Research - Part 1

Podcast

Episode 3: Transformation of Customer Experience in 2020


First Resources profit misses consensus by 88.2% in Q1

First Resources Ltd. said its normalized net income for the first quarter came to $5.6 million, a decrease of 72.6% from $20.3 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to 4.9% from 21.1% in the year-earlier period.

Total revenue increased 17.5% year over year to $113.1 million from $96.3 million, and total operating expenses climbed 74.7% on an annual basis to $96.7 million from $55.3 million.

Reported net income declined 77.8% on an annual basis to $5.4 million, or 0 cents per share, from $24.2 million, or 2 cents per share.