Cullen/Frost Bankers Q1 2024 Adj EPS $2.15 Beats $2.12 Estimate, Sales $501.428M Miss $515.992M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cullen/Frost Bankers (NYSE:CFR) reported Q1 2024 adjusted EPS of $2.15, surpassing the $2.12 estimate but marking a 20.37% decrease from the previous year. Sales of $501.428M fell short of the $515.992M estimate, a slight 0.72% drop from last year.
April 25, 2024 | 1:08 pm
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NEUTRAL IMPACT
Cullen/Frost Bankers reported a mixed Q1 2024 with EPS beating estimates but sales missing expectations, indicating a potential mixed short-term impact on its stock price.
The beat on EPS suggests operational efficiency and could be viewed positively by investors, potentially supporting the stock price. However, the miss on sales forecasts could raise concerns about revenue growth and market demand, possibly offsetting the positive impact of the EPS beat. Given these mixed signals, the short-term impact on CFR's stock price is uncertain, leading to a neutral score.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100