CVB Financial Q2 2024 GAAP EPS $0.36 Beats $0.34 Estimate, Sales $125.273M Beat $113.041M Estimate
Portfolio Pulse from Benzinga Newsdesk
CVB Financial (NASDAQ:CVBF) reported Q2 2024 earnings per share (EPS) of $0.36, surpassing the analyst consensus estimate of $0.34 by 5.88%. The company also reported quarterly sales of $125.273 million, exceeding the estimate of $113.041 million by 10.82%. However, this represents a 5.23% decrease from the same period last year.
July 24, 2024 | 8:49 pm
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CVB Financial reported better-than-expected Q2 2024 earnings and sales, with EPS of $0.36 beating estimates by 5.88% and sales of $125.273 million exceeding estimates by 10.82%. Despite a year-over-year sales decline of 5.23%, the positive earnings surprise is likely to have a favorable short-term impact on the stock price.
The positive earnings and sales surprises are likely to boost investor confidence and drive the stock price up in the short term, despite the year-over-year sales decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100