Ellington Residential Earlier Reported Q3 Adj $0.21 Misses $0.24 Estimate, Sales $(1.10M) Miss $640.00K Estimate
Portfolio Pulse from Benzinga Newsdesk
Ellington Residential (NYSE:EARN) reported Q3 adjusted earnings of $0.21 per share, missing the consensus estimate of $0.24, and sales of $(1.10M), which also fell short of the $640.00K estimate. Compared to the same quarter last year, earnings decreased by 8.7% and sales by 271.25%.

November 13, 2023 | 12:05 pm
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NEGATIVE IMPACT
Ellington Residential's Q3 earnings and sales missed estimates, with a significant decrease compared to the previous year.
Missing both earnings and sales estimates, especially by such large margins, is typically seen as a negative indicator for a stock's short-term performance. Investors may react negatively to the earnings miss and the substantial decrease in sales compared to the previous year, potentially leading to a decline in EARN's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100