Bank of Queensland Full Year 2024 Earnings: EPS Misses Expectations

Simply Wall St

October 18, 2024

Bank of Queensland (ASX:BOQ) Full Year 2024 Results

Key Financial Results

Revenue: AU$1.57b (down 7.5% from FY 2023).
Net income: AU$284.0m (up 139% from FY 2023).
Profit margin: 18% (up from 7.0% in FY 2023). The increase in margin was driven by lower expenses.
EPS: AU$0.43 (up from AU$0.18 in FY 2023).

BOQ Banking Performance Indicators

Net interest margin (NIM): 1.56% (down from 1.69% in FY 2023).
Cost-to-income ratio: 66.8% (up from 58.0% in FY 2023).
Non-performing loans: 0.13% (down from 0.14% in FY 2023).

revenue-and-expenses-breakdown — ASX:BOQ Revenue and Expenses Breakdown October 18th 2024

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

Bank of Queensland EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.2%.

The primary driver behind last 12 months revenue was the Retail Banking segment contributing a total revenue of AU$878.0m (56% of total revenue). The largest operating expense was General & Administrative costs, amounting to AU$848.0m (66% of total expenses). Explore how BOQ's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Banks industry in Australia.

Performance of the Australian Banks industry.

The company's shares are up 15% from a week ago.

Risk Analysis

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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.