Lakeland Bancorp Q1 EPS $0.30 Beats $0.27 Estimate, Sales $67.65M Miss $69.61M Estimate
Portfolio Pulse from Benzinga Newsdesk
Lakeland Bancorp (NASDAQ:LBAI) reported Q1 earnings per share of $0.30, surpassing the $0.27 estimate, but its sales of $67.65M fell short of the $69.61M estimate, marking a 17.69% decrease from the previous year.

April 19, 2024 | 12:04 pm
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Lakeland Bancorp's Q1 earnings surpassed estimates with an EPS of $0.30, but sales missed expectations and decreased by 17.69% compared to last year.
While the earnings per share (EPS) beat may positively impact investor sentiment towards LBAI, the miss on sales and the significant year-over-year decline could temper any potential stock price gains. The mixed results present a neutral outlook in the short term as investors weigh the positive earnings surprise against the sales miss and revenue decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100