Bar Harbor Bankshares Q3 Adj $0.80 Beats $0.67 Estimate, Sales $38.61M Miss $38.92M Estimate
Portfolio Pulse from Benzinga Newsdesk
Bar Harbor Bankshares reported Q3 earnings of $0.80 per share, beating estimates by 19.4%, but missed sales estimates slightly with $38.61M. Earnings increased by 9.59% year-over-year, while sales rose by 1.61%.
October 22, 2024 | 8:27 pm
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Bar Harbor Bankshares reported strong Q3 earnings of $0.80 per share, surpassing expectations by 19.4%. However, sales slightly missed estimates at $38.61M. The earnings growth of 9.59% year-over-year is a positive indicator, but the sales miss may temper investor enthusiasm.
The significant earnings beat is likely to have a positive impact on BHB's stock price in the short term, as it indicates strong profitability. However, the slight miss in sales may limit the upside potential. Overall, the positive earnings surprise outweighs the sales miss.
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