UPDATE: Towne Bank Q2 Adj EPS $0.52 Misses $0.57 Estimate, Sales $181.57M Beat $180.75M Estimate
Portfolio Pulse from Happy Mohamed
Towne Bank (NASDAQ:TOWN) reported Q2 earnings of $0.52 per share, missing the analyst consensus estimate of $0.57 by 8.77%. This is a decrease of 18.75% from the same period last year. However, the company's quarterly sales of $181.57 million beat the analyst consensus estimate of $180.75 million by 0.45%, marking an increase of 8.74% from the same period last year.
July 27, 2023 | 1:02 pm
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NEUTRAL IMPACT
Towne Bank's Q2 earnings missed estimates, but sales exceeded expectations. This mixed performance may lead to uncertain short-term price movements.
Towne Bank's earnings miss could negatively impact the stock price, but the sales beat could offset this. The mixed results make the short-term price direction uncertain.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100