Texas Capital Bancshares Q1 EPS $0.46 Misses $0.60 Estimate, Sales $256.33M Beat $253.29M Estimate
Portfolio Pulse from Benzinga Newsdesk
Texas Capital Bancshares (NASDAQ:TCBI) reported Q1 earnings of $0.46 per share, missing the consensus estimate of $0.60 by 23.33%. Year-over-year, earnings decreased by 34.29% from $0.70. However, Q1 sales of $256.33M exceeded estimates by 1.20%, despite a 6.02% decrease from the previous year's $272.75M.
April 18, 2024 | 10:04 am
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Texas Capital Bancshares reported lower than expected Q1 earnings but surpassed sales estimates. Earnings per share were $0.46, missing the $0.60 estimate, with a 34.29% decrease YoY. Sales reached $256.33M, slightly above the $253.29M estimate.
The missed earnings estimate and the significant year-over-year decrease in earnings per share are likely to negatively impact investor sentiment towards TCBI in the short term. However, the slight beat on sales estimates may provide some offsetting positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100