UPDATE: Westamerica Bancorp Q3 Adj $1.27 Beats $1.24 Estimate, Sales $74.39M Beat $73.12M Estimate
Portfolio Pulse from Benzinga Newsdesk
Westamerica Bancorp (NASDAQ:WABC) reported Q3 earnings of $1.31 per share, beating estimates of $1.24, despite a 16.03% decrease from last year. Sales were $74.39M, surpassing the $73.12M estimate, but down 10.77% from the previous year.
October 17, 2024 | 2:53 pm
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Westamerica Bancorp's Q3 earnings and sales beat analyst estimates, but both figures show a decline compared to the previous year. EPS was $1.31, above the $1.24 estimate, and sales were $74.39M, exceeding the $73.12M estimate.
The positive earnings surprise and sales beat are likely to have a short-term positive impact on WABC's stock price. However, the year-over-year decline in both earnings and sales may temper investor enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100