Cathay General Q2 2024 Adj EPS $0.96 Beats $0.94 Estimate, Sales $178.531M Miss $179.184M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cathay General (NASDAQ: CATY) reported Q2 2024 adjusted EPS of $0.96, beating the estimate of $0.94. However, sales were $178.531M, missing the $179.184M estimate and showing a 12.76% decrease from the same period last year.
July 22, 2024 | 9:02 pm
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Cathay General's Q2 2024 adjusted EPS of $0.96 beat estimates, but sales of $178.531M missed expectations and decreased by 12.76% YoY.
While the EPS beat is a positive sign, the miss on sales and the significant YoY decrease in revenue could neutralize the positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100