Carter Bankshares Q1 2024 Adj EPS $0.24 Beats $0.10 Estimate, Sales $33.670M Beat $32.789M Estimate
Portfolio Pulse from Benzinga Newsdesk
Carter Bankshares (NASDAQ:CARE) reported Q1 2024 adjusted EPS of $0.24, surpassing the $0.10 estimate, with sales of $33.670M exceeding the $32.789M forecast. This represents a 26.03% decrease in sales compared to the same period last year.

April 25, 2024 | 12:54 pm
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Carter Bankshares reported a significant beat on both EPS and sales estimates for Q1 2024, with a notable year-over-year decrease in sales.
Beating both EPS and sales estimates typically generates positive sentiment among investors, likely leading to a short-term uptick in stock price. However, the significant year-over-year decrease in sales might temper the positive impact, as it could raise concerns about the company's growth trajectory. The net effect is expected to be positive in the short term due to the immediate positive reaction to earnings beats, but investors will also weigh the sales decrease in their longer-term outlook.
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