Stellar Bancorp Inc. Q1 Profit Falls, But Beats Estimates

(RTTNews) - Stellar Bancorp Inc. (STEL) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $24.70 million, or $0.46 per share. This compares with $26.14 million, or $0.49 per share, last year.

Analysts on average had expected the company to earn $0.44 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.6% to $104.8 million from $102.1 million last year.

Stellar Bancorp Inc. earnings at a glance (GAAP) :

-Earnings: $24.70 Mln. vs. $26.14 Mln. last year. -EPS: $0.46 vs. $0.49 last year. -Revenue: $104.8 Mln vs. $102.1 Mln last year.