Valley Ntl Q3 Adj EPS $0.26, Inline, Sales $471.08M Miss $472.18M Estimate
Portfolio Pulse from Benzinga Newsdesk
Valley National (NASDAQ:VLY) reported Q3 adjusted earnings of $0.26 per share, in line with analyst consensus. This is a 25.71% decrease from the same period last year. The company's quarterly sales were $471.08 million, missing the analyst consensus of $472.18 million by 0.23%. This is a 7.66% decrease from the same period last year.
October 26, 2023 | 11:10 am
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Valley National's Q3 earnings met expectations but sales missed estimates and both earnings and sales are down from last year.
Valley National's earnings met expectations, which is positive. However, the company missed sales estimates and both earnings and sales are down from the same period last year. This could negatively impact investor sentiment and put downward pressure on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100