ACRES Commercial Realty Q2 2024 Adj. EPS $0.51 Beats $0.46 Estimate, Sales $20.936M Miss $21.150M Estimate
Portfolio Pulse from Benzinga Newsdesk
ACRES Commercial Realty (NYSE:ACR) reported Q2 2024 adjusted EPS of $0.51, beating the estimate of $0.46. However, sales of $20.936M missed the $21.150M estimate and were down 11.37% year-over-year.
July 31, 2024 | 8:40 pm
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NEUTRAL IMPACT
ACRES Commercial Realty reported better-than-expected EPS for Q2 2024 but missed on sales estimates and showed a year-over-year decline in revenue.
The positive EPS surprise is offset by the sales miss and year-over-year revenue decline, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100