Bendigo and Adelaide Bank (ASX:BEN) determined that there was a 5.8% difference between the bank's actual cash earnings for the first half of fiscal 2025 and its best estimate of the market's expectations for its cash earnings, which did not exceed the guidance of a difference of 15% for considering a "disclosure in such circumstances", according to a Wednesday Australian bourse filing.
The bank was responding to a letter from the Australian Securities Exchange, which noted that after the publication of its half-year results, the bank's share price fell significantly.
The letter noted that firms have to consider whether they have a legal obligation to notify the market if their earnings differ significantly from market expectations.
The difference is based on nine earnings forecasts published by sell-side analysts that cover the bank, according to the filing.
The firm noted that for the financial year ending June 30, its board was satisfied that its expected cash earnings are at a level that "does not result in any obligation" for it to make an announcement.
Cash earnings is the key earnings metric for market participants in assessing the firm's earnings performance.
The bank's shares rose over 1% in recent trading on Wednesday.
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