OFG Bancorp Reveals Retreat In Q1 Bottom Line, But Beats Estimates

(RTTNews) - OFG Bancorp (OFG) reported earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $45.57 million, or $1.00 per share. This compares with $49.69 million, or $1.05 per share, last year.

Analysts on average had expected the company to earn $0.97 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.4% to $178.28 million from $174.16 million last year.

OFG Bancorp earnings at a glance (GAAP) :

-Earnings: $45.57 Mln. vs. $49.69 Mln. last year. -EPS: $1.00 vs. $1.05 last year. -Revenue: $178.28 Mln vs. $174.16 Mln last year.