Ellington Residential Q1 Adj $0.27 Beats $0.25 Estimate, Sales $279.00K Miss $3.64M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ellington Residential (NYSE:EARN) reported Q1 adjusted earnings of $0.27 per share, surpassing the $0.25 estimate, marking a 28.57% increase from last year. However, Q1 sales of $279.00K fell short of the $3.64M estimate by 92.34%, despite being a 175% increase from the previous year.
May 14, 2024 | 8:30 pm
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Ellington Residential's Q1 earnings surpassed expectations, but sales significantly missed estimates, indicating mixed financial health.
The positive earnings beat suggests operational efficiency and could support the stock price. However, the significant miss in sales forecasts may raise concerns about revenue growth and market demand, potentially offsetting the positive impact of the earnings beat. The mixed results create uncertainty about the short-term direction of EARN's stock price.
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