Horizon Bancorp Q1 2024 Adj EPS $0.32 Beats $0.31 Estimate, Sales $53.217M Miss $54.377M Estimate
Portfolio Pulse from Benzinga Newsdesk
Horizon Bancorp (NASDAQ:HBNC) reported Q1 2024 adjusted EPS of $0.32, surpassing the $0.31 estimate, but its sales of $53.217M fell short of the $54.377M forecast. This represents a 25.58% decrease in earnings and a 2.99% drop in sales from the same period last year.

April 24, 2024 | 8:36 pm
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Horizon Bancorp's Q1 2024 earnings surpassed estimates with an adjusted EPS of $0.32, but sales missed expectations at $53.217M, indicating mixed financial performance.
The beat on the EPS estimate is positive, suggesting operational efficiency or cost management that investors might view favorably. However, the miss on sales forecasts could raise concerns about revenue growth and market demand, potentially offsetting the positive EPS impact. The year-over-year decrease in both earnings and sales further complicates the outlook, suggesting that while the company is managing to exceed some analyst expectations, it's doing so in a challenging environment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100