Camden National Q4 Adj $0.85 Beats $0.79 Estimate, Sales $38.70M Miss $42.22M Estimate
Portfolio Pulse from Benzinga Newsdesk
Camden National Corporation (NASDAQ:CAC) reported Q4 adjusted earnings of $0.85 per share, surpassing the consensus estimate of $0.79 by 7.59%. However, this represents a 19.05% decrease from the $1.05 per share earned in the same quarter last year. Quarterly sales were $38.70M, falling short of the $42.22M estimate by 8.35% and marking a 17.25% decline from the previous year's $46.76M.
January 30, 2024 | 1:22 pm
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Camden National's Q4 earnings exceeded expectations but showed a significant decrease from last year, and sales missed estimates with a notable year-over-year decline.
While the earnings per share beat may initially be seen as positive, the significant year-over-year decline in both earnings and sales is likely to concern investors. The miss on revenue estimates could indicate underlying challenges in the company's operations or market conditions, potentially leading to a negative short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100