Canadian Imperial Bank of Commerce Full Year 2023 Earnings: EPS Misses Expectations

Canadian Imperial Bank of Commerce (TSE:CM) Full Year 2023 Results

Key Financial Results

• Revenue: CA$21.3b (up 2.6% from FY 2022).
• Net income: CA$4.73b (down 22% from FY 2022).
• Profit margin: 22% (down from 29% in FY 2022). The decrease in margin was driven by higher expenses.
• EPS: CA$5.16 (down from CA$6.70 in FY 2022).

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

Canadian Imperial Bank of Commerce EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%.

Looking ahead, revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Banks industry in Canada.

Performance of the Canadian Banks industry.

The company's shares are up 4.6% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Canadian Imperial Bank of Commerce that you need to be mindful of.

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