Stellar Bancorp Inc. Profit Drops In Q3, But Beats Estimates

(RTTNews) - Stellar Bancorp Inc. (STEL) revealed earnings for third quarter that Dropped, from the same period last year but beat the Street estimates.

The company's earnings totaled $25.7 million, or $0.50 per share. This compares with $33.9 million, or $0.63 per share, last year.

Analysts on average had expected the company to earn $0.49 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.1% to $105.5 million from $107.8 million last year.

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

-Earnings: $25.7 Mln. vs. $33.9 Mln. last year. -EPS: $0.50 vs. $0.63 last year. -Revenue: $105.5 Mln vs. $107.8 Mln last year.