Berkshire Hills Bancorp Q3 2024 Adj. EPS $0.58 Beats $0.55 Estimate, Sales $88.059M Miss $90.478M Estimate
Portfolio Pulse from Benzinga Newsdesk
Berkshire Hills Bancorp reported Q3 2024 earnings per share of $0.58, surpassing the analyst estimate of $0.55, marking a 16% increase from last year. However, sales were $88.059 million, missing the $90.478 million estimate and showing a 2.52% decrease from the previous year.
October 24, 2024 | 11:32 am
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Berkshire Hills Bancorp's Q3 2024 earnings per share exceeded expectations, but sales fell short. The EPS of $0.58 beat the $0.55 estimate, while sales of $88.059 million missed the $90.478 million estimate.
The positive earnings surprise with a 16% increase in EPS is a strong indicator of profitability, which is favorable for the stock. However, the sales miss and year-over-year decline in revenue could offset the positive sentiment, leading to mixed market reactions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100