Bank of Nova Scotia Q1 Adjusted EPS $1.24 Beats $1.21 Estimate, Sales $6.20B Beat $6.12B Estimate
Portfolio Pulse from Benzinga Newsdesk
Bank of Nova Scotia (NYSE:BNS) reported Q1 adjusted EPS of $1.24, surpassing the $1.21 estimate, and sales of $6.20B, exceeding the $6.12B estimate. This represents a 7.31% decrease in EPS and a 4.29% increase in sales year-over-year.
February 27, 2024 | 10:33 am
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Bank of Nova Scotia reported a Q1 adjusted EPS of $1.24, beating estimates, and sales of $6.20B, also above forecasts. Despite a year-over-year decrease in EPS, sales increased.
Beating both EPS and sales estimates typically has a positive short-term impact on a company's stock price. The year-over-year decrease in EPS might temper some enthusiasm, but the increase in sales and beating estimates are strong positive signals.
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IMPORTANCE 90
RELEVANCE 100