Trustco Bank Q1 2024 GAAP EPS $0.64 Beats $0.60 Estimate, Sales $41.421M Miss $43.130M Estimate
Portfolio Pulse from Benzinga Newsdesk
Trustco Bank (NASDAQ:TRST) reported Q1 2024 earnings of $0.64 per share, surpassing the $0.60 estimate, but saw a 31.18% decrease from the previous year's $0.93. Sales were $41.421M, missing the $43.130M estimate and marking a 19.78% decrease from last year's $51.634M.

April 22, 2024 | 9:19 pm
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Trustco Bank reported Q1 2024 earnings of $0.64 per share, beating estimates but with a significant year-over-year decrease. Sales also missed estimates and showed a notable decline from the previous year.
While Trustco Bank exceeded earnings expectations, the significant year-over-year decrease in both earnings and sales could temper investor enthusiasm. The mixed results—beating earnings estimates but missing on sales and witnessing substantial declines from the previous year—suggest a neutral short-term impact on the stock price. Investors may appreciate the earnings beat but remain cautious due to the sales miss and overall decline in performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100