Provident Bancorp Q2 EPS $0.21 Beats $0.15 Estimate, Sales $16.60M Miss $18.30M Estimate
Portfolio Pulse from Benzinga Newsdesk
Provident Bancorp reported Q2 earnings of $0.21 per share, beating the analyst consensus estimate of $0.15 by 40%. However, the company's quarterly sales of $16.60 million missed the analyst consensus estimate of $18.30 million by 9.27%. This represents a 36.36% decrease in earnings and a 17.63% decrease in sales compared to the same period last year.
July 27, 2023 | 9:47 pm
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NEUTRAL IMPACT
Provident Bancorp's Q2 earnings exceeded expectations but sales did not meet estimates. Both earnings and sales have decreased compared to the same period last year.
While the earnings beat could have a positive impact on the stock, the sales miss and the year-on-year decrease in both earnings and sales could have a negative impact. Therefore, the overall short-term impact on the stock is neutral.
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IMPORTANCE 80
RELEVANCE 100