Customers Bancorp Q1 2024 Adj EPS $1.42 Misses $1.63 Estimate, Sales $160.385M Miss $167.861M Estimate
Portfolio Pulse from Benzinga Newsdesk
Customers Bancorp (NYSE:CUBI) reported Q1 2024 adjusted EPS of $1.42, missing the $1.63 estimate, and sales of $160.385M, below the $167.861M estimate. This represents a 10.13% decrease in EPS and a 7.00% increase in sales from the same period last year.
April 25, 2024 | 9:25 pm
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Customers Bancorp reported lower-than-expected Q1 2024 earnings and sales, with a 10.13% decrease in EPS and a 7.00% increase in sales year-over-year.
Missing both EPS and sales estimates can lead to negative investor sentiment and potentially lower stock prices in the short term. The decrease in EPS year-over-year further compounds concerns, despite the increase in sales, indicating potential challenges in profitability or cost management.
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