Grupo Financiero Banorte. de Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS In Line

Simply Wall St

Published November 02, 2024

Grupo Financiero Banorte. de (BMV:GFNORTEO) Third Quarter 2024 Results

Key Financial Results

Revenue: Mex$32.1b (up 9.6% from 3Q 2023).
Net income: Mex$14.2b (up 7.3% from 3Q 2023).
Profit margin: 44% (in line with 3Q 2023).
EPS: Mex$5.00.

BMV:GFNORTE O Earnings and Revenue Growth November 2nd 2024

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

Grupo Financiero Banorte. de Revenues Beat Expectations

Revenue exceeded analyst estimates by 9.3%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Banks industry in South America.

Performance of the market in Mexico.

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

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Grupo Financiero Banorte. de that we have uncovered.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.