Lakeland Financial Q3 EPS $0.98 Beats $0.90 Estimate, Sales $59.23M Miss $60.83M Estimate
Portfolio Pulse from saritha@benzinga.com
Lakeland Financial (NASDAQ:LKFN) reported Q3 earnings of $0.98 per share, beating the analyst consensus estimate of $0.90 by 8.89%. However, this is a 11.71% decrease from the same period last year. The company's quarterly sales were $59.23 million, missing the analyst consensus estimate of $60.83 million by 2.63%, and marking a 5.47% decrease from the same period last year.
October 25, 2023 | 12:05 pm
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NEGATIVE IMPACT
Lakeland Financial's Q3 earnings beat estimates but sales missed, and both earnings and sales decreased from the same period last year.
The company's earnings beat estimates, which is a positive signal. However, the miss on sales and the decrease in both earnings and sales from the same period last year could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100