Webster Finl Q3 Adj $1.34 Misses $1.35 Estimate, Sales $589.88M Miss $595.17M Estimate
Portfolio Pulse from Benzinga Newsdesk
Webster Financial (NYSE:WBS) reported Q3 earnings of $1.34 per share, missing the $1.35 estimate, and sales of $589.88M, missing the $595.17M estimate. Earnings decreased by 13.55% from last year, while sales increased by 0.47%.
October 17, 2024 | 11:32 am
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NEGATIVE IMPACT
Webster Financial's Q3 earnings and sales both missed analyst estimates, with earnings per share at $1.34 versus the expected $1.35, and sales at $589.88M versus the expected $595.17M. Earnings decreased by 13.55% year-over-year, while sales saw a slight increase of 0.47%.
The miss on both earnings and sales estimates, along with a significant year-over-year decrease in earnings, suggests a negative short-term impact on Webster Financial's stock price. The slight increase in sales is not enough to offset the negative sentiment from missing estimates.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100