Enact Holdings Q1 2024 Adj EPS $1.04 Beats $0.96 Estimate, Sales $291.576M Miss $294.116M Estimate
Portfolio Pulse from Benzinga Newsdesk
Enact Holdings (NASDAQ:ACT) reported Q1 2024 earnings of $1.04 per share, surpassing the $0.96 estimate, but sales of $291.576M fell short of the $294.116M forecast. Earnings per share decreased by 3.7% from the previous year, while sales increased by 3.79%.
May 01, 2024 | 10:08 pm
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Enact Holdings reported a mixed Q1 2024 with EPS beating estimates at $1.04 but sales missing expectations at $291.576M. EPS saw a 3.7% decrease from last year, while sales grew by 3.79%.
The mixed earnings report from Enact Holdings, with an EPS beat but a slight miss on sales, presents a neutral short-term impact on its stock price. The EPS beat is positive, but the sales miss and the year-over-year decrease in EPS could temper investor enthusiasm. The growth in sales compared to last year indicates some positive momentum, balancing the overall impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100