Cherry Hill Mortgage Q2 2024 Adj. EPS $0.08 Misses $0.15 Estimate
Portfolio Pulse from Benzinga Newsdesk
Cherry Hill Mortgage (NYSE:CHMI) reported Q2 2024 adjusted EPS of $0.08, missing the analyst estimate of $0.15 by 46.67%. This represents a 50% decrease from the same period last year. However, the company reported a significant increase in sales, reaching $167 million, a 126.34% rise from the previous year's negative sales of $(634) million.
August 08, 2024 | 10:12 pm
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Cherry Hill Mortgage reported Q2 2024 EPS of $0.08, missing the $0.15 estimate by 46.67%. This is a 50% decrease from last year. However, sales increased by 126.34% to $167 million.
The significant miss on EPS estimates and the 50% decrease in earnings from the previous year are likely to negatively impact CHMI's stock price in the short term. Despite the substantial increase in sales, the market is likely to focus on the earnings miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100