Føroya Banki Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Føroya Banki (CPH:BNORDIK CSE) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr.166.6m (up 6.1% from 2Q 2023).
• Net income: kr.87.0m (up 25% from 2Q 2023).
• Profit margin: 52% (up from 44% in 2Q 2023). The increase in margin was primarily driven by lower expenses.
• EPS: kr.9.09 (up from kr.7.29 in 2Q 2023).

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

Føroya Banki EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) exceeded analyst estimates by 101%.

Looking ahead, revenue is expected to fall by 10% p.a. on average during the next 3 years compared to a 1.4% decline forecast for the Banks industry in Denmark.

Performance of the Danish Banks industry.

The company's shares are up 2.7% from a week ago.

Risk Analysis

Be aware that Føroya Banki is showing 2 warning signs in our investment analysis and 1 of those doesn't sit too well with us...

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