Piraeus Financial Holdings First Quarter 2024 Earnings: Misses Expectations

Piraeus Financial Holdings (ATH:TPEIR) First Quarter 2024 Results

Key Financial Results

• Revenue: €577.0m (down 15% from 1Q 2023).
• Net income: €233.0m (up 30% from 1Q 2023).
• Profit margin: 40% (up from 26% in 1Q 2023).
• EPS: €0.18 (up from €0.14 in 1Q 2023).

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

Piraeus Financial Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 14%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 4.5% growth forecast for the Banks industry in Greece.

Performance of the Greek Banks industry.

The company's shares are down 5.6% from a week ago.

Valuation

Our analysis of Piraeus Financial Holdings based on 6 different valuation metrics shows it might be undervalued. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.

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