M&T Bank Q4 EPS $2.81 Misses $3.49 Estimate, Sales $2.30B Beat $2.28B Estimate
Portfolio Pulse from Benzinga Newsdesk
M&T Bank (NYSE:MTB) reported Q4 earnings per share (EPS) of $2.81, missing the consensus estimate of $3.49 by 19.48%, and representing a 38.51% decrease from the same period last year. However, the company's quarterly sales of $2.30B slightly exceeded expectations of $2.28B by 0.70%, despite being an 8.33% decrease from the previous year.
January 18, 2024 | 11:14 am
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NEGATIVE IMPACT
M&T Bank's Q4 EPS fell significantly below analyst expectations and showed a substantial decrease from the previous year, although sales figures slightly surpassed estimates.
Missing the EPS estimate by a wide margin and reporting a significant year-over-year decline is likely to be viewed negatively by investors, potentially leading to a short-term decrease in stock price. The sales beat might mitigate the impact slightly, but the negative earnings surprise is typically the more influential factor in investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100