American Coastal Q2 2024 Adj. EPS $0.40 Beats $0.30 Estimate, Sales $63.381M Miss $68.785M Estimate
Portfolio Pulse from Benzinga Newsdesk
American Coastal (NASDAQ:ACIC) reported Q2 2024 adjusted EPS of $0.40, beating the $0.30 estimate, but sales of $63.381M missed the $68.785M estimate. EPS decreased by 35.48% YoY, and sales decreased by 18.76% YoY.
August 07, 2024 | 9:09 pm
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American Coastal (NASDAQ:ACIC) reported Q2 2024 adjusted EPS of $0.40, beating the $0.30 estimate, but sales of $63.381M missed the $68.785M estimate. EPS decreased by 35.48% YoY, and sales decreased by 18.76% YoY.
While the EPS beat estimates, the significant YoY decrease in both EPS and sales, along with the sales miss, creates a mixed outlook. Investors may react neutrally in the short term as positive EPS is offset by declining sales.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100