Western Alliance Q1 EPS $1.60 Misses $1.66 Estimate, Sales $728.80M Beat $697.04M Estimate
Portfolio Pulse from Benzinga Newsdesk
Western Alliance (NYSE:WAL) reported Q1 earnings of $1.60 per share, missing the consensus estimate of $1.66, a 30.43% decrease from last year. However, their quarterly sales of $728.80M exceeded estimates by 4.56%, marking a 32.05% increase from the previous year.
April 18, 2024 | 8:16 pm
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NEUTRAL IMPACT
Western Alliance's Q1 earnings per share missed estimates, showing a significant decrease from last year, but sales exceeded expectations with a notable year-over-year increase.
The miss in earnings per share (EPS) could negatively impact investor sentiment in the short term, suggesting potential downward pressure on WAL's stock price. However, the significant increase in sales and beating sales estimates might offset some of the negative impact, providing a mixed outlook for the stock. The overall neutral score reflects this balance between the earnings miss and the sales beat.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100