OceanFirst Financial Q3 Adj $0.39 Beats $0.38 Estimate, Sales $82.22M Miss $83.18M Estimate
Portfolio Pulse from Benzinga Newsdesk
OceanFirst Financial reported Q3 earnings of $0.39 per share, beating the estimate of $0.38, but sales of $82.22M missed the $83.18M estimate. Earnings increased by 21.88% year-over-year, while sales decreased by 9.65%.
October 17, 2024 | 8:17 pm
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NEUTRAL IMPACT
OceanFirst Financial's Q3 earnings per share of $0.39 beat expectations, but sales of $82.22M fell short. Earnings rose significantly year-over-year, but sales declined.
The earnings beat is a positive indicator, but the sales miss and year-over-year sales decline could offset the positive sentiment. The mixed results suggest a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100