SpareBank 1 Helgeland Second Quarter 2024 Earnings: Revenues Miss Expectations
SpareBank 1 Helgeland (OB:HELG) Second Quarter 2024 Results
Key Financial Results
- Revenue: kr299.0m (up 19% from 2Q 2023).
- Net income: kr139.0m (up 70% from 2Q 2023).
- Profit margin: 47% (up from 33% in 2Q 2023). The increase in margin was primarily driven by higher revenue.
All figures shown in the chart above are for the trailing 12 month (TTM) period
SpareBank 1 Helgeland Revenues Disappoint
Revenue missed analyst estimates by 4.5%.
Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 3 years, while revenues in the Banks industry in Norway are expected to remain flat.
Performance of the Norwegian Banks industry.
The company's shares are up 1.2% from a week ago.
Risk Analysis
We should say that we've discovered 1 warning sign for SpareBank 1 Helgeland that you should be aware of before investing here.
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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.
About OB:HELG
SpareBank 1 Helgeland
Provides various financial products and services to retail customers, small and medium enterprises, municipal authorities, and institutions in Norway.
Excellent balance sheet established dividend payer.