ACRES Commercial Realty Q3 Adj $0.24 Misses $0.39 Estimate, Sales $22.35M Beat $21.08M Estimate
Portfolio Pulse from Benzinga Newsdesk
ACRES Commercial Realty reported Q3 earnings of $0.24 per share, missing the $0.39 estimate, but sales of $22.35M beat the $21.08M estimate. Earnings decreased by 67.12% from last year, while sales decreased by 6.89%.
October 30, 2024 | 8:58 pm
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ACRES Commercial Realty's Q3 earnings per share of $0.24 missed the analyst estimate of $0.39, a significant 38.46% shortfall. However, sales of $22.35M exceeded expectations of $21.08M. Year-over-year, earnings fell by 67.12% and sales by 6.89%.
The significant miss on earnings per share compared to analyst estimates is likely to negatively impact the stock price in the short term. Although sales exceeded expectations, the year-over-year decline in both earnings and sales suggests underlying challenges.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100