Synovus Finl Q1 2024 Adj EPS $0.79 Misses $0.99 Estimate, Sales $537.734M Miss $547.634M Estimate
Portfolio Pulse from Benzinga Newsdesk
Synovus Financial Corp. (SNV) reported Q1 2024 adjusted earnings per share (EPS) of $0.79, missing the consensus estimate of $0.99 by 20.2%. Quarterly sales were $537.734 million, below the estimate of $547.634 million by 1.81%, marking a 12.40% decrease from the same period last year.
April 17, 2024 | 9:15 pm
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NEGATIVE IMPACT
Synovus Financial Corp. (SNV) missed Q1 2024 earnings and sales estimates, with a significant year-over-year sales decrease.
Missing both earnings and sales estimates significantly, especially with a double-digit percentage decrease in sales year-over-year, is likely to negatively impact investor sentiment and the stock price of Synovus Financial in the short term. The magnitude of the miss and the comparison to last year's performance highlight potential underlying issues that could concern investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100