Banca Monte dei Paschi di Siena Second Quarter 2024 Earnings: Revenues Beat Expectations

Banca Monte dei Paschi di Siena (BIT:BMPS) Second Quarter 2024 Results

Key Financial Results

• Revenue: €892.0m (up 1.9% from 2Q 2023).
• Net income: €827.0m (up 116% from 2Q 2023).
• Profit margin: 93% (up from 44% in 2Q 2023). The increase in margin was primarily driven by lower expenses.

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

Banca Monte dei Paschi di Siena Revenues Beat Expectations

Revenue exceeded analyst estimates by 1.7%.

Looking ahead, revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 1.3% growth forecast for the Banks industry in Italy.

Performance of the Italian Banks industry.

The company's share price is broadly unchanged from a week ago.

Valuation

Our analysis of Banca Monte dei Paschi di Siena based on 6 different valuation metrics shows it might be undervalued. Click here to find out what a fair price for the stock might be and where analysts see the share price heading over the next year.

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