Stifel’s stocks drops after big miss on Q3 earnings estimate partly due to non-recurring legal accruals

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 97%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.

Stifel Financial Corp.’s stock SFL, +0.55% dropped 5% in premarket trading on Wednesday after the investment bank and financial services company’s third-quarter earnings of 60 cents a share missed the FactSet consensus estimate of $1.29 a share. Stifel also had non-recurring legal costs of 58 cents a share related to the industry review by the U.S. Securities and Exchange Commission of off-channel communications.

Adding that cost back into its earnings would have brought the figure up to $1.18 a share. Revenue of $1.05 billion fell short of the analyst forecast of $1.07 billion. Stifel Chief Executive Ronald J. Kruszewski said the company’s results were solid despite challenging market conditions. “Although the near-term environment remains uncertain, we remain well positioned to generate stable returns and strong growth as the market improves,” he said.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 3. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

RTX stock rallies after adjusted earnings beat Wall Street estimateSteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Bron: MarketWatch - 🏆 3. / 97 Lees verder »

Vertiv stock rallies as data company beats profit expectation and hikes viewSteve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Bron: MarketWatch - 🏆 3. / 97 Lees verder »