Bank of Montreal Q2 2024 Adj EPS C$2.59 Misses C$2.77 Estimate, Sales C$7.988B Miss C$8.046B Estimate
Portfolio Pulse from Benzinga Newsdesk
Bank of Montreal (NYSE:BMO) reported Q2 2024 earnings of C$2.59 per share, missing the analyst estimate of C$2.77. Sales were C$7.988 billion, also below the C$8.046 billion estimate. Earnings decreased by 10.38% year-over-year, while sales increased by 2.82%.
May 29, 2024 | 10:05 am
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Bank of Montreal reported Q2 2024 earnings of C$2.59 per share, missing the analyst estimate of C$2.77. Sales were C$7.988 billion, also below the C$8.046 billion estimate. Earnings decreased by 10.38% year-over-year, while sales increased by 2.82%.
The earnings miss and lower-than-expected sales are likely to negatively impact BMO's stock price in the short term. The significant year-over-year decrease in earnings further adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100