ConnectOne Bancorp Q4 2023 GAAP EPS $0.46 Beats $0.45 Estimate, Sales $61.82M Miss $63.03M Estimate
Portfolio Pulse from Benzinga Newsdesk
ConnectOne Bancorp (NASDAQ:CNOB) reported Q4 2023 earnings of $0.46 per share, slightly beating the consensus estimate of $0.45. However, the company's earnings decreased by 41.77% compared to $0.79 per share from the same period last year. Quarterly sales were $61.82M, missing the estimate of $63.03M by 1.91%, and representing a 20.75% decrease from the previous year's sales of $78.01M.
January 25, 2024 | 12:04 pm
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ConnectOne Bancorp reported a mixed Q4 with a slight earnings beat but significant decreases in both earnings and sales compared to last year.
While ConnectOne Bancorp beat earnings estimates, the significant year-over-year decline in both earnings and sales is likely to concern investors and could negatively impact the stock price in the short term. The miss on sales estimates further compounds the negative outlook, despite the slight beat on earnings per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100