Westamerica Bancorp Q1 EPS $1.37, Inline, Sales $76.19M Miss $77.52M Estimate
Portfolio Pulse from Benzinga Newsdesk
Westamerica Bancorp (NASDAQ:WABC) reported Q1 earnings of $1.37 per share, meeting analyst estimates but marking a 9.27% decrease from last year. Sales were $76.19M, missing estimates by 1.71% and down 4.89% from the previous year.
April 18, 2024 | 2:55 pm
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Westamerica Bancorp reported Q1 earnings per share of $1.37, aligning with estimates but showing a 9.27% decrease from the previous year. Sales were $76.19M, missing the $77.52M estimate and marking a 4.89% decrease YOY.
The reported earnings and sales miss, especially in the context of year-over-year declines in both metrics, are likely to negatively impact investor sentiment towards WABC in the short term. Meeting EPS estimates may not fully mitigate the disappointment from the sales miss and the decrease in earnings and sales compared to the previous year.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100