Sterling Bancorp Q1 Sales $15.133M Miss $15.460M Estimate
Portfolio Pulse from Benzinga Newsdesk
Sterling Bancorp (NASDAQ:SBT) reported Q1 sales of $15.133M, missing the consensus estimate of $15.460M by 2.12%, marking a 15.71% decrease from the previous year.
April 24, 2024 | 11:46 am
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Sterling Bancorp reported lower than expected Q1 sales, missing estimates and showing a significant year-over-year decline.
Missing sales estimates and reporting a significant year-over-year decline are negative indicators that can lead to bearish investor sentiment in the short term. This underperformance, especially when it comes to revenue, is a critical factor that investors consider, potentially leading to a decrease in stock price.
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