Independent Bank Q1 2024 Adj EPS $1.12 Misses $1.15 Estimate, Sales $167.382M Miss $170.118M Estimate
Portfolio Pulse from Benzinga Newsdesk
Independent Bank (INDB) reported Q1 2024 adjusted EPS of $1.12, missing the $1.15 estimate, and sales of $167.382M, below the $170.118M estimate. This represents a 10.61% decrease in sales compared to the same period last year.
April 18, 2024 | 8:22 pm
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NEGATIVE IMPACT
Independent Bank reported lower than expected Q1 2024 earnings and sales, with a significant year-over-year decrease in sales.
Missing both earnings and sales estimates, especially with a notable decrease in sales compared to the previous year, is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100