Provident Bancorp Q4 EPS $0.18 Beats $0.12 Estimate, Sales $15.21M Miss $15.50M Estimate
Portfolio Pulse from Benzinga Newsdesk
Provident Bancorp (NASDAQ:PVBC) reported Q4 earnings of $0.18 per share, surpassing the $0.12 estimate, a 12.5% increase from the previous year. However, sales of $15.21M fell short of the $15.50M estimate, marking a 26.45% decrease from the same period last year.
January 25, 2024 | 10:41 pm
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NEUTRAL IMPACT
Provident Bancorp beat EPS estimates but missed on revenue, with a significant year-over-year decrease in sales.
The positive earnings beat may provide some upward momentum for PVBC's stock price, but the miss on revenue and the substantial year-over-year sales decline could temper investor enthusiasm. The mixed results lead to a neutral short-term impact score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100