Moelis Q1 2024 Adj EPS $0.22 Beats $0.13 Estimate, Sales $217.485M Miss $219.305M Estimate
Portfolio Pulse from Benzinga Newsdesk
Moelis & Company (MC) reported Q1 2024 adjusted EPS of $0.22, surpassing the $0.13 estimate, marking a 340% increase from the previous year. However, their sales of $217.485M fell short of the $219.305M estimate, despite being a 17.37% increase from last year.
April 24, 2024 | 8:30 pm
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POSITIVE IMPACT
Moelis & Company reported a significant beat on adjusted EPS for Q1 2024 but missed sales estimates slightly.
The substantial beat on the EPS estimate, indicating a strong profit growth, is likely to positively impact investor sentiment and potentially the stock price in the short term. However, the slight miss on sales estimates could temper some of the positive momentum. Overall, the significant earnings growth year-over-year is expected to have a more substantial positive effect on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100