Synovus Finl Q4 Adj EPS $0.80 Misses $0.90 Estimate, Sales $488.68M Miss $516.58M Estimate
Portfolio Pulse from Benzinga Newsdesk
Synovus Financial Corp. (SNV) reported Q4 adjusted earnings of $0.80 per share, missing the consensus estimate of $0.90 by 11.11%. Year-over-year, earnings decreased by 40.74% from $1.35 per share. Quarterly sales were $488.68M, falling short of the $516.58M estimate by 5.40%, and representing a 19.06% decrease from the previous year's $603.78M.
January 17, 2024 | 10:13 pm
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NEGATIVE IMPACT
Synovus Financial Corp. reported lower-than-expected Q4 earnings and sales, with significant decreases compared to the same period last year.
The missed earnings and sales estimates are likely to negatively impact investor sentiment in the short term, leading to a potential decrease in stock price. The significant year-over-year decline in both earnings and sales further underscores the company's underperformance, which could lead to bearish market reactions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100