Cadence Bank Q2 Adj $0.69 Beats $0.61 Estimate, Sales $456.98M Beat $442.65M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cadence Bank (NYSE:CADE) reported Q2 earnings of $0.69 per share, beating the analyst estimate of $0.61 by 13.11%. Sales were $456.98M, surpassing the $442.65M estimate. Earnings increased by 7.81% year-over-year, while sales decreased by 1.90%.
July 22, 2024 | 8:33 pm
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Cadence Bank reported strong Q2 earnings of $0.69 per share, beating estimates by 13.11%. Sales also exceeded expectations at $456.98M. Despite a slight year-over-year sales decline, the earnings growth is a positive indicator.
The significant beat on both earnings and sales estimates is likely to positively impact CADE's stock price in the short term. The earnings growth of 7.81% year-over-year further supports a positive outlook, despite the slight decline in sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100