Open Lending Q1 2024 GAAP EPS $0.04 Misses $0.05 Estimate, Sales $30.745M Beat $28.648M Estimate
Portfolio Pulse from Benzinga Newsdesk
Open Lending (NASDAQ:LPRO) reported Q1 2024 earnings of $0.04 per share, missing the $0.05 estimate, and sales of $30.745M, beating the $28.648M estimate. This represents a 60% decrease in earnings and a 19.85% decrease in sales from the same period last year.
May 07, 2024 | 8:37 pm
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Open Lending reported lower-than-expected Q1 2024 earnings at $0.04 per share against a $0.05 estimate but exceeded sales forecasts with $30.745M against a $28.648M estimate.
The miss in earnings per share (EPS) expectations is likely to negatively impact investor sentiment in the short term, despite the sales beat. The significant year-over-year decrease in both earnings and sales further compounds concerns about the company's growth trajectory and profitability, likely leading to a negative short-term price movement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100