Customers Bancorp Q4 Adj $1.90 Beats $1.72 Estimate, Sales $172.51M Miss $173.26M Estimate
Portfolio Pulse from Benzinga Newsdesk
Customers Bancorp (NYSE:CUBI) reported Q4 adjusted earnings of $1.90 per share, surpassing the consensus estimate of $1.72, representing a 59.66% increase from the previous year. However, sales of $172.51M fell slightly short of the $173.26M estimate, though they were up 27.65% from the same period last year.
January 25, 2024 | 10:03 pm
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Customers Bancorp exceeded Q4 earnings expectations with a 59.66% YOY increase but missed revenue estimates by a narrow margin, indicating strong profitability but slightly underwhelming sales growth.
The positive earnings beat is likely to be viewed favorably by investors, as it suggests operational efficiency and profitability, which could lead to a short-term increase in stock price. However, the slight miss in revenue may temper the market's reaction, preventing a more significant stock price movement.
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