Towne Bank Q3 EPS $0.60 Beats $0.49 Estimate, Sales $172.86M Beat $172.42M Estimate
Portfolio Pulse from Benzinga Newsdesk
Towne Bank reported Q3 earnings of $0.60 per share, beating the analyst consensus estimate of $0.49 by 22.45%. However, this is a 13.04% decrease from the same period last year. The company also reported quarterly sales of $172.86 million, slightly beating the estimate of $172.42 million but showing a 3.56% decrease from last year.
October 26, 2023 | 12:12 pm
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Towne Bank's Q3 earnings and sales beat estimates but showed a decrease from the same period last year.
While Towne Bank beat estimates for Q3, the year-on-year decrease in both earnings and sales could potentially offset any positive impact from beating estimates. This mixed result makes the short-term impact on the stock price uncertain.
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