OceanFirst Financial Q4 2023 GAAP EPS $0.45 Beats $0.42 Estimate, Sales $87.80M Miss $90.36M Estimate
Portfolio Pulse from Benzinga Newsdesk
OceanFirst Financial (NASDAQ:OCFC) reported Q4 2023 earnings of $0.45 per share, surpassing the consensus estimate of $0.42. However, their quarterly sales of $87.80M fell short of the expected $90.36M, marking a 17.55% decrease from the same period last year.
January 18, 2024 | 9:20 pm
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NEUTRAL IMPACT
OceanFirst Financial exceeded EPS estimates but missed on revenue, with a significant year-over-year sales decline.
The mixed earnings report with an EPS beat but a miss on revenue and a notable decline in sales year-over-year could lead to neutral investor sentiment in the short term. The EPS beat may be seen positively, but the sales miss and decline could raise concerns about growth, potentially balancing out the stock's short-term performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100