Mercantile Bank Q3 2024 GAAP EPS $1.22 Beats $1.17 Estimate, Sales $58.000M Beat $56.831M Estimate
Portfolio Pulse from Benzinga Newsdesk
Mercantile Bank (NASDAQ:MBWM) reported Q3 2024 earnings of $1.22 per share, beating estimates of $1.17. Sales were $58 million, surpassing the $56.831 million estimate. However, both earnings and sales showed a slight decline compared to the same period last year.
October 15, 2024 | 9:08 am
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Mercantile Bank's Q3 2024 earnings per share of $1.22 exceeded expectations, but both earnings and sales showed a slight year-over-year decline.
The positive earnings surprise and sales beat are likely to have a short-term positive impact on MBWM's stock price. However, the year-over-year decline in both earnings and sales may temper investor enthusiasm.
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