Horizon Bancorp Q3 Adj EPS $0.37 Beats $0.36 Estimate, Sales $53.92M Miss $55.46M Estimate
Portfolio Pulse from mahesh@benzinga.com
Horizon Bancorp (NASDAQ:HBNC) reported Q3 earnings of $0.37 per share, beating the analyst consensus estimate of $0.36 by 2.78%. However, this is a 32.73% decrease from the same period last year. The company's quarterly sales were $53.92 million, missing the analyst consensus estimate of $55.46 million by 2.78%, and marking a 15.20% decrease from the same period last year.
October 25, 2023 | 8:13 pm
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Horizon Bancorp's Q3 earnings beat estimates but are significantly down YoY. Sales also missed estimates and are down YoY.
Horizon Bancorp's earnings beat the estimates, which is a positive signal. However, the YoY decrease in both earnings and sales is a negative signal, which could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100