Ares Comml Real Est Q2 2024 Adj. EPS $(0.12) Misses $0.12 Estimate, Sales $16.797M Miss $18.823M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ares Comml Real Est (NYSE:ACRE) reported a Q2 2024 adjusted EPS of $(0.12), missing the analyst estimate of $0.12 by 200%. The company also reported sales of $16.797M, missing the $18.823M estimate by 10.77%, and marking a 32.79% decrease from the same period last year.
August 06, 2024 | 10:07 am
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NEGATIVE IMPACT
Ares Comml Real Est (NYSE:ACRE) reported a significant miss in both EPS and sales for Q2 2024. The adjusted EPS of $(0.12) missed the analyst estimate of $0.12 by 200%, and sales of $16.797M missed the $18.823M estimate by 10.77%, representing a 32.79% decrease from the same period last year.
The significant miss in both EPS and sales, along with a notable year-over-year decline in sales, is likely to negatively impact ACRE's stock price in the short term. Investors may react to the poor financial performance and the substantial deviation from analyst expectations.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100