Banc of California Q3 Adj. EPS $0.30, Inline, Sales $69.22M Miss $71.63M Estimate
Portfolio Pulse from Benzinga Newsdesk
Banc of California (NYSE:BANC) reported Q3 adjusted earnings of $0.30 per share, in line with analyst consensus. However, this is a 31.82% decrease from the same period last year. The company's quarterly sales of $69.22 million missed the analyst consensus estimate of $71.63 million by 3.37%, marking a 12.83% decrease from last year.
October 24, 2023 | 10:09 am
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NEGATIVE IMPACT
Banc of California's Q3 earnings met expectations, but sales missed estimates and both earnings and sales are down year-over-year.
Banc of California's earnings met expectations, which is positive. However, the company's sales missed estimates and both earnings and sales are down compared to the same period last year. This could negatively impact investor sentiment and the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100