Eagle Bancorp Q1 2024 GAAP EPS $(0.01) Misses $0.59 Estimate, Sales $74.698M Beat $74.010M Estimate
Portfolio Pulse from Benzinga Newsdesk
Eagle Bancorp (NASDAQ:EGBN) reported Q1 2024 GAAP EPS of $(0.01), missing the $0.59 estimate, and sales of $74.698M, beating the $74.010M estimate. This represents a significant decrease in earnings and a slight increase in sales compared to the same period last year.
April 24, 2024 | 9:14 pm
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Eagle Bancorp reported a significant miss in Q1 2024 EPS at $(0.01) versus the expected $0.59, but slightly beat sales estimates with $74.698M. Earnings decreased by over 100% from the previous year.
The significant miss in EPS is likely to negatively impact investor sentiment towards EGBN in the short term, despite the slight beat on sales estimates. The over 100% decrease in earnings compared to the previous year highlights a substantial decline in profitability, which could lead to downward pressure on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100