New York Community Q2 2024 Adj EPS $(1.05) Misses $(0.42) Estimate, Sales $557.000M Miss $600.962M Estimate
Portfolio Pulse from Benzinga Newsdesk
New York Community (NYSE: NYCB) reported Q2 2024 adjusted EPS of $(1.05), significantly missing the analyst estimate of $(0.42). Sales also missed expectations, coming in at $557 million versus the $600.962 million estimate. Both EPS and sales showed substantial declines from the same period last year.
July 25, 2024 | 11:08 am
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New York Community (NYSE: NYCB) reported disappointing Q2 2024 results with an adjusted EPS of $(1.05), missing the $(0.42) estimate by 150%. Sales also fell short at $557 million, missing the $600.962 million estimate by 7.32%. Both EPS and sales showed significant declines from the same period last year.
The significant miss on both EPS and sales estimates, coupled with substantial year-over-year declines, is likely to negatively impact NYCB's stock price in the short term. Investors may react negatively to the worse-than-expected financial performance.
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