Cathay General Q1 2024 GAAP EPS $0.98, Inline, Sales $175.183M Miss $187.456M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cathay General (NASDAQ:CATY) reported Q1 2024 earnings of $0.98 per share, meeting analyst estimates but marking a 25.76% decrease from the previous year. Sales were $175.183M, missing estimates by 6.55% and showing a 15.24% decrease from the previous year.
April 22, 2024 | 8:50 pm
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Cathay General reported Q1 2024 earnings of $0.98 per share, in line with estimates but down 25.76% YOY. Sales missed estimates at $175.183M, a 15.24% decrease YOY.
The reported earnings per share (EPS) meeting analyst estimates indicates stability, but the significant year-over-year decrease in both EPS and sales suggests potential challenges ahead for Cathay General. The missed sales estimate further emphasizes the revenue challenges, likely leading to a negative short-term impact on the stock price.
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