Columbia Banking System Q2 2024 Adj EPS $0.67 Beats $0.57 Estimate, Sales $472.152M Miss $475.953M Estimate
Portfolio Pulse from Benzinga Newsdesk
Columbia Banking System (NASDAQ: COLB) reported Q2 2024 adjusted EPS of $0.67, beating the estimate of $0.57. However, sales of $472.152 million missed the estimate of $475.953 million and were down 9.83% year-over-year.
July 25, 2024 | 8:02 pm
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Columbia Banking System reported Q2 2024 adjusted EPS of $0.67, beating the estimate of $0.57 by 17.54%. However, sales of $472.152 million missed the estimate of $475.953 million and were down 9.83% year-over-year.
The positive EPS surprise is likely to have a short-term positive impact on the stock price, despite the slight miss in sales and the year-over-year decline. Investors often react more strongly to earnings beats.
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