Colony Bankcorp Q1 2024 Adj EPS $0.33 Beats $0.31 Estimate, Sales $28.141M Beat $27.600M Estimate
Portfolio Pulse from Benzinga Newsdesk
Colony Bankcorp (NASDAQ:CBAN) reported Q1 2024 adjusted EPS of $0.33, surpassing the $0.31 estimate, with sales of $28.141M also beating the $27.600M forecast. This represents a 6.45% increase in EPS and a slight 0.30% decrease in sales from the previous year.
April 24, 2024 | 9:46 pm
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Colony Bankcorp reported a Q1 2024 adjusted EPS of $0.33, beating estimates, and sales of $28.141M, also above expectations. Year-over-year, EPS increased by 6.45%, though sales saw a slight decline of 0.30%.
Beating both EPS and sales estimates typically generates positive investor sentiment, likely leading to a short-term uptick in stock price. The year-over-year EPS growth indicates solid financial performance, further supporting a positive outlook. However, the slight decrease in sales year-over-year introduces a note of caution, potentially moderating the positive impact.
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