OceanFirst Financial Q2 Adj EPS $0.46 Misses $0.47 Estimate, Sales $92.11M Beat $91.85M Estimate
Portfolio Pulse from vinayak@benzinga.com
OceanFirst Financial (NASDAQ:OCFC) reported Q2 earnings of $0.46 per share, missing the analyst consensus estimate of $0.47 by 2.13%. This is a 22.03% decrease from the same period last year. However, the company reported quarterly sales of $92.11 million, beating the analyst consensus estimate of $91.85 million by 0.28%. This is a 1.44% increase from the same period last year.
July 20, 2023 | 8:32 pm
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NEUTRAL IMPACT
OceanFirst Financial's Q2 earnings missed estimates but sales beat expectations. This mixed result could lead to uncertain short-term price movements.
OceanFirst Financial's earnings miss could negatively impact the stock price, while the sales beat could provide some upward pressure. The net effect is uncertain, leading to a neutral score.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100