United Bankshares Q4 EPS $0.59 Misses $0.65 Estimate, Sales $263.37M Beat $259.28M Estimate
Portfolio Pulse from Benzinga Newsdesk
United Bankshares (NASDAQ:UBSI) reported Q4 earnings per share (EPS) of $0.59, missing the consensus estimate of $0.65 by 9.23%. Year-over-year, this represents a 20.27% decrease from $0.74 EPS. However, their quarterly sales of $263.37M exceeded estimates of $259.28M by 1.58%, despite being a 6.04% decrease from the previous year's $280.28M.
January 26, 2024 | 12:56 pm
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United Bankshares reported lower-than-expected Q4 EPS at $0.59, missing estimates by 9.23%, but surpassed sales estimates by 1.58% with $263.37M. The EPS showed a significant year-over-year decline of 20.27%.
The miss on the EPS estimate is likely to have a negative impact on UBSI's stock price in the short term, as earnings are a critical measure of a company's financial performance. The decrease in EPS year-over-year further emphasizes the company's reduced profitability, which could concern investors. However, the beat on sales provides a slightly positive counterbalance, which may mitigate the negative impact to some extent.
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