California Bancorp Q1 Adj $0.57 Beats $0.54 Estimate, Sales $19.42M Miss $19.53M Estimate
Portfolio Pulse from Benzinga Newsdesk
California Bancorp (NASDAQ:CALB) reported Q1 adjusted earnings of $0.57 per share, surpassing the $0.54 estimate, but saw a 10.94% decrease from last year's $0.64. Sales reached $19.42M, slightly missing the $19.53M estimate and marking a 2.24% decrease from the previous year.
April 29, 2024 | 12:21 pm
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NEUTRAL IMPACT
California Bancorp reported a mixed Q1 with earnings beating estimates but sales slightly missing expectations and showing a year-over-year decline.
The earnings beat could provide a short-term positive sentiment, offset by the slight miss in sales and year-over-year declines in both earnings and sales. The mixed results present a neutral outlook, as the positive earnings surprise is balanced by the slight sales disappointment and the comparison to last year's stronger performance.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100