ACRES Commercial Realty Q1 2024 Adj EPS $0.16 Misses $0.30 Estimate, Sales $18.768M Miss $21.550M Estimate
Portfolio Pulse from Benzinga Newsdesk
ACRES Commercial Realty (NYSE:ACR) reported Q1 2024 adjusted EPS of $0.16, missing the $0.30 estimate, and sales of $18.768M, below the $21.550M estimate. This represents a 69.23% decrease in earnings and a 10.87% decrease in sales from the same period last year.
May 01, 2024 | 10:32 pm
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ACRES Commercial Realty reported a significant miss in both earnings and sales for Q1 2024, with adjusted EPS at $0.16 against a $0.30 estimate and sales of $18.768M versus the expected $21.550M.
The significant miss in both earnings per share and sales compared to analyst estimates, along with a year-over-year decrease in these metrics, is likely to negatively impact investor sentiment and the stock price in the short term. The magnitude of the miss and the comparison to last year's performance highlight underlying challenges that could concern investors.
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