Bank of Marin Q1 2024 GAAP EPS $0.18 Misses $0.26 Estimate, Sales $22.694M Miss $24.847M Estimate
Portfolio Pulse from Benzinga Newsdesk
Bank of Marin (NASDAQ:BMRC) reported Q1 2024 earnings of $0.18 per share, missing the $0.26 estimate, and sales of $22.694M, below the $24.847M estimate. This represents a 69.49% decrease in earnings and a 30.88% decrease in sales from the same period last year.
April 29, 2024 | 12:38 pm
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NEGATIVE IMPACT
Bank of Marin's Q1 2024 earnings and sales missed estimates, with a significant decrease compared to last year.
Missing both earnings and sales estimates significantly, especially with such a stark year-over-year decline, is likely to negatively impact investor sentiment and the stock price of BMRC in the short term. The magnitude of the miss and the comparison to the previous year's performance highlight underlying challenges that could concern investors.
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