Granite Point Mortgage Q2 2024 Adj. EPS $(0.05) Beats $(0.21) Estimate, Sales $8.131M Miss $12.307M Estimate
Portfolio Pulse from Benzinga Newsdesk
Granite Point Mortgage (NYSE:GPMT) reported Q2 2024 adjusted EPS of $(0.05), beating the estimate of $(0.21) but showing a significant decline from $0.20 per share last year. Sales were $8.131 million, missing the $12.307 million estimate and down 62.77% from $21.840 million last year.
August 05, 2024 | 9:15 pm
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Granite Point Mortgage reported Q2 2024 adjusted EPS of $(0.05), beating the estimate of $(0.21) but showing a significant decline from $0.20 per share last year. Sales were $8.131 million, missing the $12.307 million estimate and down 62.77% from $21.840 million last year.
While the EPS beat expectations, the significant decline in both EPS and sales compared to last year, along with the sales miss, creates a mixed outlook. Investors may react neutrally in the short term as they weigh the positive EPS beat against the negative sales performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100