Provident Bancorp Q3 2024 GAAP EPS $0.04 Misses $0.07 Estimate, Sales $14.117M Beat $13.700M Estimate
Portfolio Pulse from Benzinga Newsdesk
Provident Bancorp reported Q3 2024 earnings per share of $0.04, missing the consensus estimate of $0.07. However, sales were $14.117 million, surpassing the expected $13.700 million. Despite the sales beat, this represents a 9.81% decrease from the previous year's sales.
October 24, 2024 | 10:05 pm
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Provident Bancorp's Q3 2024 earnings per share of $0.04 missed analyst expectations by 42.86%, while sales of $14.117 million exceeded estimates but were down 9.81% year-over-year.
The significant miss on EPS suggests potential concerns about profitability, which could negatively impact the stock price. However, the sales beat provides a positive note, though the year-over-year decline in sales may still weigh on investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100