Camden National Q4 Adj EPS $0.85 Beats $0.79 Estimate, Sales $38.70M Miss $42.22M Estimate
Portfolio Pulse from mahesh@benzinga.com
Camden National Corporation (NASDAQ:CAC) reported Q4 adjusted earnings per share (EPS) of $0.85, surpassing the analyst estimate of $0.79 by 7.59%. However, this represents a 19.05% decrease from the $1.05 EPS reported in the same quarter last year. The company's quarterly sales were $38.70 million, falling short of the $42.22 million analyst estimate by 8.35% and marking a 17.25% decline from the $46.76 million sales in the same period last year.
January 30, 2024 | 1:23 pm
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NEUTRAL IMPACT
Camden National's Q4 earnings beat estimates but showed a significant year-over-year decline, while sales missed expectations and also decreased from the previous year.
While the EPS beat may be viewed positively, the year-over-year decline in both EPS and sales could raise concerns about the company's growth trajectory, potentially leading to a neutral short-term impact on the stock price. The mixed results present both positive and negative signals to the market, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100