Ares Capital Q3 Adj $0.58 Misses $0.59 Estimate, Sales $775.00M Beat $774.28M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ares Capital (NASDAQ:ARCC) reported Q3 earnings of $0.58 per share, missing the $0.59 estimate, but sales of $775M beat the $774.28M estimate. Earnings decreased by 1.69% from last year, while sales increased by 18.32%.
October 30, 2024 | 10:17 am
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NEUTRAL IMPACT
Ares Capital's Q3 earnings per share missed estimates by 1.69%, but sales exceeded expectations with an 18.32% increase from last year.
The earnings miss is slightly negative, but the sales beat and significant year-over-year sales growth provide a positive counterbalance. The mixed results suggest a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100