OFG Bancorp (NYSE:OFG) unwinded its third quarter earnings results on Friday 23rd October 2020 before market open.
The banking and financial services provider, reported $ 0.50 income per share for the quarter, beat the consensus estimate of $ 0.35 income per share by $ 0.15 or 42.86 percent.
The quarterly earnings extended 354.55 percent compared with the same quarter last year.
OFG Bancorp had revenue of $ 127.00 million for the quarter, compared to the consensus estimate of $ 105.60 million. The revenues outshined analysts estimates by $ 21.40 million or 20.27 percent.
The financial report showed revenues up 27.90 percent versus third quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
José Rafael Fernández, President, Chief Executive Officer, and Vice Chairman of the Board, stated: We had a strong third quarter performance in our core business. This was due to an improved macro-economic environment in Puerto Rico and the U.S. Virgin Islands coupled with our being resilient, agile, and more than ready to service the changing needs of our customers and communities.
