Carter Bankshares, Inc. (CARE) Misses Q3 Earnings and Revenue Estimates

Core Insights - Carter Bankshares, Inc. reported quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.39 per share, but showing an increase from $0.23 per share a year ago, resulting in an earnings surprise of -33.33% [1] - The company posted revenues of $39.25 million for the quarter ended September 2025, which was 1.38% below the Zacks Consensus Estimate and an increase from $34.41 million year-over-year [2] - The stock has gained approximately 7.7% since the beginning of the year, underperforming compared to the S&P 500's gain of 13.9% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.39 on revenues of $41 million, and for the current fiscal year, it is $1.50 on revenues of $154.8 million [7] - The estimate revisions trend for Carter Bankshares was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Banks - Northeast industry, to which Carter Bankshares belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]