TriCo Q1 2024 GAAP EPS $0.83 Beats $0.80 Estimate, Sales $98.507M Miss $100.039M Estimate
Portfolio Pulse from Benzinga Newsdesk
TriCo Bancshares (NASDAQ:TCBK) reported Q1 2024 earnings of $0.83 per share, surpassing the $0.80 estimate, but saw a 22.43% decrease from last year's $1.07. Sales reached $98.507M, missing the $100.039M estimate and marking a 7.91% decrease from the previous year.
April 25, 2024 | 12:12 pm
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TriCo Bancshares reported a mixed Q1 2024 with earnings beating estimates but sales missing expectations and both metrics showing a year-over-year decline.
While the earnings beat might provide a short-term positive sentiment, the miss on sales and the year-over-year declines in both earnings and sales could temper investor enthusiasm. The mixed results present a neutral outlook in the short term as investors weigh the positive earnings surprise against the sales miss and overall declines.
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IMPORTANCE 90
RELEVANCE 100