Lakeland Financial Q4 2023 Adj EPS $0.98 Beats $0.89 Estimate, Sales $65.81M Beat $59.98M Estimate
Portfolio Pulse from Benzinga Newsdesk
Lakeland Financial (NASDAQ:LKFN) reported Q4 2023 earnings of $0.98 per share, surpassing the consensus estimate of $0.89 by 10.11%. Sales reached $65.81M, exceeding the $59.98M estimate by 9.71%, despite a 2.30% decrease from the same period last year.
January 25, 2024 | 1:05 pm
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Lakeland Financial reported higher-than-expected Q4 earnings and sales, with EPS at $0.98 and sales at $65.81M, beating estimates by 10.11% and 9.71%, respectively.
The positive earnings and sales beat are likely to instill investor confidence and could lead to a short-term uptick in LKFN's stock price. Historically, earnings beats have been correlated with positive stock performance. However, the reported decrease in sales compared to the same period last year might temper the market's reaction slightly.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100