Columbia Banking System Q4 Adj $0.44 Misses $0.79 Estimate, Sales $519.16M Miss $526.68M Estimate
Portfolio Pulse from Benzinga Newsdesk
Columbia Banking System (NASDAQ:COLB) reported Q4 adjusted earnings of $0.44 per share, significantly missing the consensus estimate of $0.79 by 44.3%. Year-over-year, earnings fell by 50% from $0.88 per share. Quarterly sales were $519.16M, also missing the estimate of $526.68M by 1.43%, despite a 173.21% increase from $190.02M in the same period last year.
January 24, 2024 | 9:23 pm
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Columbia Banking System's Q4 earnings and sales missed estimates, with a significant drop in EPS year-over-year and a slight miss in revenue.
The substantial miss in both earnings per share and sales compared to analyst estimates is likely to negatively impact investor sentiment and the stock price in the short term. The earnings miss is particularly concerning as it represents a significant decline from the previous year, indicating potential underlying issues that may worry investors.
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