Towne Bank Q2 Adj $0.57 Beats $0.48 Estimate, Sales $174.97M Beat $172.27M Estimate
Portfolio Pulse from Benzinga Newsdesk
Towne Bank (NASDAQ:TOWN) reported Q2 earnings of $0.57 per share, beating the analyst estimate of $0.48 by 18.75%. Sales were $174.97M, surpassing the $172.27M estimate. Earnings increased by 9.62% YoY, while sales decreased by 3.63% YoY.
July 24, 2024 | 8:53 pm
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Towne Bank reported strong Q2 earnings of $0.57 per share, beating estimates by 18.75%. Sales also exceeded expectations at $174.97M. Despite a YoY sales decline, the earnings growth is a positive indicator.
The significant beat on both earnings and sales estimates is likely to positively impact Towne Bank's stock price in the short term. The earnings growth of 9.62% YoY is a strong indicator of the company's performance, despite the slight decline in sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100