Zions Bancorp Q1 Adj EPS $1.03 Beats $0.98 Estimate, Sales $742.00M Miss $743.48M Estimate
Portfolio Pulse from Benzinga Newsdesk
Zions Bancorp (NASDAQ:ZION) reported Q1 adjusted EPS of $1.03, surpassing the $0.98 estimate, but its sales of $742M fell short of the $743.48M forecast. This represents a 22.56% decrease in earnings and an 11.56% decrease in sales from the previous year.
April 22, 2024 | 12:41 pm
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Zions Bancorp reported a mixed Q1 with adjusted EPS beating estimates but sales missing expectations, alongside significant year-over-year declines in both earnings and sales.
The mixed results with an earnings beat but a slight miss on sales, coupled with the significant year-over-year declines, could lead to neutral market sentiment in the short term. Investors might appreciate the earnings beat but could be concerned about the sales miss and the declines compared to last year.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100