November 22, 2024
Popular Third Quarter 2024 Earnings: Misses Expectations #UKFinance

Popular Third Quarter 2024 Earnings: Misses Expectations #UKFinance

CashNews.co

  • Revenue: US$665.1m (up 28% from 3Q 2023).

  • Net income: US$155.3m (up 14% from 3Q 2023).

  • Profit margin: 23% (down from 26% in 3Q 2023). The decrease in margin was driven by higher expenses.

  • EPS: US$2.16 (up from US$1.90 in 3Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 6.9%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company’s shares are down 11% from a week ago.

We don’t want to rain on the parade too much, but we did also find 2 warning signs for Popular that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.