Stellar Bancorp Q2 2024 GAAP EPS $0.56 Beats $0.48 Estimate, Sales $106.826M Beat $106.558M Estimate
Portfolio Pulse from Benzinga Newsdesk
Stellar Bancorp (NYSE:STEL) reported Q2 2024 GAAP EPS of $0.56, beating the $0.48 estimate. Sales were $106.826M, slightly above the $106.558M estimate. Despite beating estimates, both EPS and sales decreased compared to the same period last year.
July 26, 2024 | 11:09 am
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Stellar Bancorp's Q2 2024 earnings per share (EPS) of $0.56 beat the analyst estimate of $0.48 by 16.67%. Sales of $106.826 million also surpassed the $106.558 million estimate. However, both EPS and sales have decreased compared to the same period last year.
The positive earnings surprise and sales beat are likely to have a short-term positive impact on STEL's stock price. However, the year-over-year decline in both EPS and sales may temper investor enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100