Cambridge Bancorp Q2 Adj EPS $1.23 Beats $1.18 Estimate, Sales $39.79M Miss $40.61M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cambridge Bancorp (NASDAQ:CATC) reported Q2 adjusted earnings of $1.23 per share, beating the analyst consensus estimate of $1.18 by 4.24%. However, this is a 35.26% decrease from the same period last year. The company's quarterly sales were $39.79 million, missing the analyst consensus estimate of $40.61 million by 2.02%, and marking a 12.22% decrease from the same period last year.
July 18, 2023 | 11:04 am
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Cambridge Bancorp's Q2 earnings beat estimates but were lower than last year. Sales missed estimates and were also lower than last year.
Cambridge Bancorp's earnings beat estimates, which is positive. However, the decrease in earnings and sales compared to the same period last year, as well as the missed sales estimates, could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100