Towne Bank Q3 Adj $0.57 Beats $0.56 Estimate, Sales $174.52M Miss $180.35M Estimate
Portfolio Pulse from Benzinga Newsdesk
Towne Bank (NASDAQ:TOWN) reported Q3 earnings of $0.57 per share, beating estimates of $0.56, but sales of $174.52M missed the $180.35M estimate. Earnings decreased by 5% from last year, while sales increased by 0.96%.
October 23, 2024 | 9:07 pm
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Towne Bank's Q3 earnings per share beat expectations, but sales fell short. Earnings decreased compared to last year, while sales saw a slight increase.
The earnings per share beat expectations, which is positive, but the sales miss and year-over-year earnings decline could offset this. The mixed results suggest a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100