SouthState Q2 Adj $1.63 Misses $1.83 Estimate, Sales $438.96M Beat $434.41M Estimate
Portfolio Pulse from Benzinga Newsdesk
SouthState (NASDAQ:SSB) reported Q2 earnings of $1.63 per share, missing the analyst consensus estimate of $1.83 by 10.93%. However, the company's quarterly sales of $438.96 million beat the estimate of $434.41 million by 1.05%. This represents a 0.62% increase in earnings and a 9.04% increase in sales compared to the same period last year.
July 27, 2023 | 9:25 pm
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NEUTRAL IMPACT
SouthState's Q2 earnings missed analyst estimates by 10.93%, but sales beat estimates by 1.05%. This could lead to mixed market reactions.
SouthState's earnings miss could negatively impact the stock as it indicates lower profitability than expected. However, the sales beat could offset this as it shows stronger revenue growth. The net impact could be neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100