Eastern Bankshares Q4 Adj EPS $0.10 Misses $0.20 Estimate, Sales $160.05M Beat $129.71M Estimate
Portfolio Pulse from bharat@benzinga.com
Eastern Bankshares (NASDAQ:EBC) reported Q4 adjusted EPS of $0.10, missing the $0.20 estimate by 50%, and a 67.74% decrease from last year's $0.31. Sales were $160.05M, surpassing the $129.71M estimate by 23.39%, but down 17.72% from last year's $194.51M.
January 25, 2024 | 9:21 pm
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NEGATIVE IMPACT
Eastern Bankshares reported a significant miss in Q4 EPS at $0.10 versus the expected $0.20, but exceeded sales estimates with $160.05M against the $129.71M forecast.
The miss on the EPS estimate is significant and likely to negatively impact investor sentiment in the short term, despite the sales beat. Earnings per share is a critical metric for investors, and a miss of this magnitude (50%) could lead to a decrease in stock price. However, the beat on sales provides a mitigating factor that may cushion the negative impact to some extent.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100