Associated Banc Q4 Adj EPS $0.53 Beats $0.52 Estimate, Sales $258.63M Miss $275.24M Estimate
Portfolio Pulse from mahesh@benzinga.com
Associated Banc (NYSE:ASB) reported Q4 adjusted EPS of $0.53, surpassing the consensus estimate of $0.52 by 1.92%. However, this represents a 24.29% decrease from the previous year's $0.70 per share. Quarterly sales were $258.63M, falling short of the $275.24M estimate by 6.04% and marking a 26.24% decline from last year's $350.65M.
January 25, 2024 | 10:12 pm
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NEGATIVE IMPACT
Associated Banc's Q4 earnings exceeded expectations by a small margin, but both earnings and sales showed significant declines from the previous year.
While the EPS beat may provide a short-term positive sentiment, the significant year-over-year declines in both EPS and sales are likely to concern investors, potentially leading to a negative impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100