Banc of California Q2 EPS $0.12 Misses $0.19 Estimate, Sales $259.28M Beat $240.12M Estimate
Portfolio Pulse from Benzinga Newsdesk
Banc of California (NYSE:BANC) reported Q2 earnings per share (EPS) of $0.12, missing the analyst estimate of $0.19 by 36.84%. However, the company reported sales of $259.28 million, beating the estimate of $240.12 million by 7.98%. EPS decreased by 62.5% year-over-year, while sales increased by 272.36%.
July 23, 2024 | 10:08 am
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Banc of California reported Q2 EPS of $0.12, missing the $0.19 estimate, but sales of $259.28M beat the $240.12M estimate. EPS decreased by 62.5% YoY, while sales increased by 272.36%.
The mixed results, with EPS missing estimates but sales beating them, create a neutral short-term impact. The significant YoY sales increase is positive, but the EPS miss and decline are negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100