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.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100