Canadian Imperial Bank of Commerce Full Year 2024 Earnings: Beats Expectations

Canadian Imperial Bank of Commerce (TSE:CM) Full Year 2024 Results

Key Financial Results

• Revenue: CA$23.6b (up 11% from FY 2023).
• Net income: CA$6.85b (up 45% from FY 2023).
• Profit margin: 29% (up from 22% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: CA$7.29 (up from CA$5.16 in FY 2023).

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

Canadian Imperial Bank of Commerce Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.6%.

Looking ahead, revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 8.5% growth forecast for the Banks industry in Canada.

Performance of the Canadian Banks industry.

The company's shares are up 2.9% 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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