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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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.
Solid track record with excellent balance sheet and pays a dividend.
