Pinnacle Finl Partners Q1 EPS $1.57 Beats $1.54 Estimate, Sales $428.14M Beat $422.49M Estimate
Portfolio Pulse from Benzinga Newsdesk
Pinnacle Financial Partners (PNFP) reported Q1 earnings of $1.57 per share, surpassing the $1.54 estimate, marking a 1.95% beat. Despite a 10.8% decrease from last year's $1.76, sales rose to $428.14M, exceeding the $422.49M forecast by 1.34% and representing a 6.57% increase from the previous year.
April 23, 2024 | 5:02 am
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POSITIVE IMPACT
Pinnacle Financial Partners exceeded Q1 earnings and sales estimates, with a slight decrease in earnings but an increase in sales compared to last year.
Beating both earnings and sales estimates typically has a positive impact on investor sentiment and stock price in the short term. The decrease in earnings year-over-year might temper some enthusiasm, but the overall positive results and sales growth suggest a likely uptick in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100