Ares Comml Real Est Q1 2024 Adj EPS $(0.62) Misses $(0.23) Estimate, Sales $18.692M Beat $17.080M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ares Commercial Real Estate (ACRE) reported Q1 2024 adjusted EPS of $(0.62), missing the $(0.23) estimate, and sales of $18.692M, beating the $17.080M estimate. This represents a significant decrease in earnings and a decrease in sales compared to the same period last year.
May 09, 2024 | 10:03 am
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NEGATIVE IMPACT
Ares Commercial Real Estate reported a significant miss in Q1 2024 EPS and a slight beat in sales, indicating mixed financial health.
The significant miss in EPS compared to estimates and the year-over-year decrease in earnings by 444.44% are likely to negatively impact investor sentiment and ACRE's stock price in the short term. The sales beat might provide some offset, but the overall negative earnings report is expected to have a more substantial impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100