SpareBank 1 SMN Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
SpareBank 1 SMN (OB:MING) Second Quarter 2024 Results
Key Financial Results
- Revenue: kr2.11b (up 20% from 2Q 2023).
- Net income: kr985.0m (up 71% from 2Q 2023).
- Profit margin: 47% (up from 33% in 2Q 2023). The increase in margin was primarily driven by higher revenue.
- EPS: kr4.43 (up from kr4.28 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
SpareBank 1 SMN Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 4.9%. Earnings per share (EPS) missed analyst estimates by 3.0%.
Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Norway.
Performance of the Norwegian Banks industry.
The company's shares are down 3.7% from a week ago.
Risk Analysis
Before you take the next step you should know about the 1 warning sign for SpareBank 1 SMN 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.
About OB:MING
SpareBank 1 SMN
Provides various banking, accounting, and real estate products and services to private individuals and companies in Norway and internationally.
6 star dividend payer and undervalued.