Sandy Spring Bancorp Q3 2024 Adj EPS $0.40 Misses $0.46 Estimate, Sales $81.41M Miss $88.49M Estimate
Portfolio Pulse from Benzinga Newsdesk
Sandy Spring Bancorp reported Q3 2024 earnings of $0.40 per share, missing the $0.46 estimate, and sales of $81.41M, below the $88.49M estimate. Earnings decreased by 35.48% and sales by 4.31% compared to the same period last year.
October 21, 2024 | 10:02 am
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NEGATIVE IMPACT
Sandy Spring Bancorp's Q3 2024 earnings and sales both missed analyst estimates, with EPS at $0.40 versus $0.46 expected and sales at $81.41M versus $88.49M expected. This represents a significant year-over-year decline in earnings and a moderate decline in sales.
The significant miss on both earnings and sales estimates, along with a notable year-over-year decline in earnings, suggests a negative short-term impact on Sandy Spring Bancorp's stock price. Investors are likely to react negatively to the earnings miss and the decline in financial performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100