SpareBank 1 SMN Third Quarter 2024 Earnings: Beats Expectations

SpareBank 1 SMN (OB:MING) Third Quarter 2024 Results

Key Financial Results

• Revenue: kr2.50b (up 42% from 3Q 2023).
• Net income: kr1.42b (up 201% from 3Q 2023).
• Profit margin: 57% (up from 27% in 3Q 2023). The increase in margin was primarily driven by higher revenue.
• EPS: kr6.42 (up from kr3.28 in 3Q 2023).

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

SpareBank 1 SMN Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 14%.

Looking ahead, revenue is forecast to decline by 1.1% 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 down 1.5% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for SpareBank 1 SMN that you should be aware of.

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