Midland States Bancorp Q1 2024 Adj EPS $0.53 Misses $0.73 Estimate, Sales $77.107M Beat $74.930M Estimate
Portfolio Pulse from Benzinga Newsdesk
Midland States Bancorp (NASDAQ:MSBI) reported Q1 2024 adjusted EPS of $0.53, missing the $0.73 estimate, and sales of $77.107M, beating the $74.930M estimate. This represents a 39.77% decrease in EPS and a 1.08% increase in sales from the same period last year.
April 25, 2024 | 8:51 pm
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Midland States Bancorp reported a significant miss in Q1 2024 EPS at $0.53 vs. the $0.73 estimate but exceeded sales expectations with $77.107M against a $74.930M forecast.
The significant miss in EPS (27.4% below estimates) is likely to negatively impact investor sentiment and stock price in the short term, despite the slight beat in sales forecasts. The decrease in EPS year-over-year further compounds concerns about the company's profitability and growth trajectory.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100