Banc of California Q2 EPS $0.32 Beats $0.30 Estimate, Sales $69.63M Miss $71.65M Estimate
Portfolio Pulse from Benzinga Newsdesk
Banc of California (NYSE:BANC) reported Q2 earnings of $0.32 per share, beating the analyst consensus estimate of $0.30 by 6.67%. However, this is a 28.89% decrease from the same period last year. The company's quarterly sales were $69.63 million, missing the analyst consensus estimate of $71.65 million by 2.82%, and marking an 11.07% decrease from the same period last year.
July 25, 2023 | 8:13 pm
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NEGATIVE IMPACT
Banc of California's Q2 earnings beat estimates but are down 28.89% YoY. Sales missed estimates and are down 11.07% YoY.
Banc of California's earnings beat estimates, which is positive. However, the YoY decrease in earnings and sales, as well as the missed sales estimate, could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100