F.N.B. Corp Earnings: Powering Ahead

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F.N.B. Corporation (NYSE:FNB) reported its results for the second quarter. F.N.B. Corporation through its subsidiaries, provides a range of financial services to consumers and small- to medium-sized businesses in its market areas.

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F.N.B. Corporation Earnings Cheat Sheet

Results: Net income for F.N.B. Corporation rose to $29.1 million (21 cents per share) vs. $22.4 million (18 cents per share) in the same quarter a year earlier. This marks a rise of 29.9% from the year-earlier quarter.

Actual vs. Wall St. Expectations: F.N.B. Corporation beat the mean analyst estimate of 20 cents per share.

Quoting Management: “Our team delivered strong results with positive trends across all key business drivers,” said Vincent J. Delie, Jr., President and Chief Executive Officer. “We are very pleased with the execution of our business strategies through the first half of 2012 and we continue to focus on opportunities to improve operating efficiency and enhance revenue growth.”

Key Stats:

The company beat estimates last quarter after meeting expectations in the first quarter with net income of 19 cents per share.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the third quarter is 21 cents per share, down from 22 cents ninety days ago. The average estimate for the fiscal year is 81 cents per share, down from 84 cents ninety days ago.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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