M&T Bank Q1 2024 Adjusted EPS $3.09, Inline, Sales $2.260B Miss $2.263B Estimate
Portfolio Pulse from Benzinga Newsdesk
M&T Bank (NYSE:MTB) reported Q1 2024 earnings of $3.09 per share, meeting analyst estimates but marking a 24.45% decrease from the previous year. Sales were $2.260 billion, slightly missing estimates by 0.12% and showing a 6.03% decrease from the previous year.
April 15, 2024 | 10:21 am
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M&T Bank reported Q1 2024 earnings per share of $3.09, aligning with estimates but showing a significant year-over-year decrease. Sales also slightly missed expectations and decreased compared to the previous year.
The reported earnings per share meeting estimates indicates stability, but the significant year-over-year decrease in both earnings and sales suggests potential concerns for short-term stock performance. The slight miss in sales estimates, although minimal, could contribute to negative investor sentiment, leading to a potential short-term decrease in stock price.
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IMPORTANCE 90
RELEVANCE 100