Eastern Bankshares Q2 EPS $0.28 Misses $0.30 Estimate, Sales $195.42M Beat $140.05M Estimate
Portfolio Pulse from mahesh@benzinga.com
Eastern Bankshares (NASDAQ:EBC) reported Q2 earnings of $0.28 per share, missing the analyst consensus estimate of $0.30 by 6.67%. This is a 12.5% decrease from the same period last year. However, the company reported quarterly sales of $195.42 million, beating the analyst consensus estimate of $140.05 million by 39.54%, a 8.79% increase from last year.
July 27, 2023 | 8:38 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Eastern Bankshares reported lower than expected Q2 earnings but higher sales. Earnings per share decreased by 12.5% YoY, while sales increased by 8.79% YoY.
Eastern Bankshares reported a decrease in earnings per share, which could negatively impact the stock price. However, the company also reported an increase in sales, which could offset the negative impact of the lower earnings. Therefore, the overall impact on the stock price is expected to be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100