Seacoast Banking Q1 2024 Adj EPS $0.37 Beats $0.35 Estimate, Sales $125.575M Miss $127.744M Estimate
Portfolio Pulse from Benzinga Newsdesk
Seacoast Banking Corporation (SBCF) reported Q1 2024 adjusted EPS of $0.37, surpassing the $0.35 estimate, marking a 27.59% increase from the previous year. However, their sales of $125.575M fell short of the $127.744M estimate, a decrease of 18.24% from the previous year.
April 25, 2024 | 8:37 pm
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Seacoast Banking Corporation (SBCF) exceeded Q1 2024 EPS estimates but missed on sales, with a significant year-over-year decrease.
The positive earnings beat may provide short-term stock price support due to better-than-expected profitability. However, the miss on sales and the significant year-over-year decrease could raise concerns about revenue growth and potentially offset the positive impact of the earnings beat.
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IMPORTANCE 90
RELEVANCE 100