Chemung Financial Q2 EPS $1.33 Beats $1.21 Estimate, Sales $24.13M Miss $24.31M Estimate
Portfolio Pulse from Benzinga Newsdesk
Chemung Financial (NASDAQ:CHMG) reported Q2 earnings of $1.33 per share, beating the analyst consensus estimate of $1.21 by 9.92%. However, this is a 22.67% decrease from the same period last year. The company's quarterly sales were $24.13 million, missing the analyst consensus estimate of $24.31 million by 0.72%, but showing a 5.11% increase from the same period last year.
July 20, 2023 | 8:31 pm
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Chemung Financial's Q2 earnings beat estimates but are down YoY. Sales missed estimates but are up YoY.
Chemung Financial's Q2 earnings beat estimates, which is positive for the stock. However, the YoY decrease in earnings and the missed sales estimates could negatively impact the stock. The YoY increase in sales is a positive factor. The mixed results make the short term impact neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100