Berkshire Hills Bancorp Q1 2024 Adj EPS $0.49 Beats $0.47 Estimate, Revenue $88.140M Miss $89.010M Estimate
Portfolio Pulse from Benzinga Newsdesk
Berkshire Hills Bancorp (BHLB) reported Q1 2024 adjusted EPS of $0.49, surpassing the $0.47 estimate, but its revenue of $88.140M fell short of the $89.010M forecast. This represents a 22.22% decrease in EPS and a 9.63% drop in revenue compared to the same period last year.
April 18, 2024 | 11:42 am
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Berkshire Hills Bancorp's Q1 2024 earnings surpassed estimates with an EPS of $0.49, but revenue missed expectations, indicating mixed financial health.
The beat on EPS may provide a short-term positive sentiment, suggesting operational efficiency or cost management success. However, the miss on revenue forecasts could raise concerns about sales growth or market demand, potentially offsetting the positive EPS impact. Given the mixed results, the short-term impact on BHLB's stock price is likely to be neutral as investors digest both the positive and negative aspects of the report.
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