Sumitomo Q2 EPS $0.71 Down From $0.88 YoY, Sales $11.73B Up From $11.57B YoY
Portfolio Pulse from totan@benzinga.com
Sumitomo reported a decrease in Q2 EPS to $0.71 from $0.88 YoY, despite a slight increase in sales to $11.73B from $11.57B YoY.
October 31, 2024 | 9:53 am
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NEGATIVE IMPACT
Sumitomo's Q2 earnings per share decreased by 19.32% to $0.71, while sales increased by 1.38% to $11.73 billion compared to the same period last year.
The decrease in EPS suggests a decline in profitability, which is typically viewed negatively by investors, potentially leading to a short-term decrease in stock price. The slight increase in sales is positive but may not offset the negative impact of the reduced EPS.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100