Stellar Bancorp Inc. Q2 Income Declines, But Beats Estimates

(RTTNews) - Stellar Bancorp Inc. (STEL) released a profit for second quarter that Drops, from last year but beat the Street estimates.

The company's earnings totaled $26.35 million, or $0.51 per share. This compares with $29.75 million, or $0.56 per share, last year.

Analysts on average had expected the company to earn $0.45 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 6.2% to $142.70 million from $152.18 million last year.

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

-Earnings: $26.35 Mln. vs. $29.75 Mln. last year. -EPS: $0.51 vs. $0.56 last year. -Revenue: $142.70 Mln vs. $152.18 Mln last year.