United Community Banks Q4 Adj EPS $0.53 Beats $0.52 Estimate, Sales $180.36M Miss $226.07M Estimate
Portfolio Pulse from Benzinga Newsdesk
United Community Banks (NASDAQ:UCBI) reported Q4 adjusted EPS of $0.53, surpassing the consensus estimate of $0.52 by 1.92%. However, the company experienced a significant decrease in earnings compared to last year's $0.75 per share. Quarterly sales were $180.36M, falling short of the $226.07M estimate by 20.22% and marking a 25.85% decline from the previous year's $243.24M.
January 24, 2024 | 12:36 pm
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United Community Banks reported a mixed Q4 with an EPS beat but a significant miss on sales and a notable year-over-year decline in both earnings and revenue.
While UCBI beat EPS estimates, the miss on sales and the significant decrease in earnings and revenue compared to the previous year are likely to concern investors. The negative growth figures could lead to bearish sentiment in the short term, potentially impacting the stock price negatively.
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