Washington Trust Bancorp Q1 2024 GAAP EPS $0.64 Beats $0.45 Estimate, Sales $31.665M Beat $31.500M Estimate
Portfolio Pulse from Benzinga Newsdesk
Washington Trust Bancorp (NASDAQ:WASH) reported Q1 2024 earnings of $0.64 per share, surpassing the $0.45 estimate, with sales of $31.665M also beating the $31.500M forecast. However, both earnings and sales saw a decrease compared to the same period last year.
April 22, 2024 | 12:04 pm
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POSITIVE IMPACT
Washington Trust Bancorp reported a strong Q1 2024 performance with earnings and sales exceeding estimates, despite a year-over-year decline.
The positive earnings and sales beat are likely to instill investor confidence and could lead to a short-term uptick in WASH's stock price. However, the year-over-year decline in both metrics may temper some of the positive sentiment, suggesting a cautious optimism for the stock's short-term trajectory.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100