Lakeland Bancorp Q3 EPS $0.34, Inline, Sales $74.32M Miss $76.58M Estimate
Portfolio Pulse from mahesh@benzinga.com
Lakeland Bancorp reported Q3 earnings of $0.34 per share, in line with analyst consensus. However, the company's quarterly sales of $74.32M missed the estimate of $76.58M by 2.95%. This represents a 29.17% decrease in earnings and a 15.08% decrease in sales compared to the same period last year.
October 26, 2023 | 12:09 pm
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Lakeland Bancorp's Q3 earnings met expectations but sales missed estimates, indicating potential financial instability.
The company's earnings were in line with expectations, which is a positive sign. However, the missed sales estimate and the YoY decrease in both earnings and sales could negatively impact investor sentiment and potentially lead to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100