Northwest Bancshares Q1 EPS $0.23, Inline, Sales $103.24M Miss $105.03M Estimate
Portfolio Pulse from Benzinga Newsdesk
Northwest Bancshares (NASDAQ:NWBI) reported Q1 earnings of $0.23 per share, meeting analyst estimates but marking an 11.54% decrease from last year. Sales were $103.24M, missing estimates by 1.71% and down 8.20% from the previous year.
April 22, 2024 | 1:08 pm
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NEGATIVE IMPACT
Northwest Bancshares reported Q1 earnings in line with estimates but saw a decrease in earnings and sales from the previous year.
Meeting earnings estimates while experiencing a year-over-year decrease in both earnings per share and sales suggests a negative short-term impact on NWBI's stock price. The miss on sales estimates and the decrease in performance compared to the previous year could lead to negative investor sentiment.
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IMPORTANCE 90
RELEVANCE 100