Old National Bancorp Full Year 2023 Earnings: Revenues Beat Expectations, EPS In Line

Old National Bancorp (NASDAQ:ONB) Full Year 2023 Results

Key Financial Results

• Revenue: US$1.76b (up 12% from FY 2022).
• Net income: US$565.9m (up 37% from FY 2022).
• Profit margin: 32% (up from 26% in FY 2022). The increase in margin was driven by higher revenue.
• EPS: US$1.95 (up from US$1.51 in FY 2022).

ONB Banking Performance Indicators

• Net interest margin (NIM): 3.54% (up from 3.47% in FY 2022).
• Cost-to-income ratio: 53.7% (down from 58.0% in FY 2022).
• Non-performing loans: 0.83% (up from 0.81% in FY 2022).

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

Old National Bancorp Revenues Beat Expectations

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Old National Bancorp's balance sheet health.

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