Synovus Finl Q2 2024 Adj EPS $1.16 Beats $0.86 Estimate, Sales $306.147M Miss $429.042M Estimate
Portfolio Pulse from Benzinga Newsdesk
Synovus Financial (NYSE:SNV) reported Q2 2024 adjusted EPS of $1.16, beating the $0.86 estimate by 34.88%. However, sales of $306.147M missed the $429.042M estimate by 28.64%, marking a 46.08% decrease from the same period last year.
July 17, 2024 | 9:11 pm
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Synovus Financial reported Q2 2024 adjusted EPS of $1.16, beating estimates by 34.88%, but sales of $306.147M missed estimates by 28.64% and decreased 46.08% YoY.
The EPS beat is a positive sign, indicating better-than-expected profitability. However, the significant miss on sales and the large YoY decline in revenue are concerning. These mixed results are likely to create uncertainty among investors, leading to a neutral short-term impact on the stock price.
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