Invesco Mortgage Capital Q1 Adj $0.86 Misses $1.14 Estimate, Sales $52.29M Miss $59.56M Estimate
Portfolio Pulse from Benzinga Newsdesk
Invesco Mortgage Capital (IVR) reported Q1 adjusted earnings of $0.86 per share, missing the $1.14 estimate, and sales of $52.29M, below the $59.56M estimate. This represents a 42.67% decrease in earnings and a 24.80% decrease in sales from the same period last year.
May 08, 2024 | 10:08 pm
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NEGATIVE IMPACT
Invesco Mortgage Capital reported lower than expected Q1 earnings and sales, with a significant decrease compared to last year.
Missing both earnings and sales estimates significantly, especially with such a large year-over-year decline, is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100