Eastern Bankshares Q3 2023 Adj EPS $0.32 Beats $0.28 Estimate, Sales $156.36M Beat $140.33M Estimate
Portfolio Pulse from totan@benzinga.com
Eastern Bankshares (NASDAQ:EBC) reported Q3 2023 earnings of $0.32 per share, beating the analyst consensus estimate of $0.28 by 14.29%. However, this is a 5.88% decrease from the same period last year. The company also reported quarterly sales of $156.36 million, surpassing the analyst consensus estimate of $140.33 million by 11.42%, but this is a 20.03% decrease from the same period last year.
October 26, 2023 | 8:54 pm
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Eastern Bankshares reported better-than-expected Q3 2023 earnings and sales, but both figures are down from the same period last year.
While Eastern Bankshares beat earnings and sales estimates, which is generally positive for the stock, the year-over-year decreases in both earnings and sales could offset this positive impact. Therefore, the short-term impact on the stock is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100