Romsdal Sparebank Second Quarter 2024 Earnings: Revenues Beat Expectations

Romsdal Sparebank (OB:ROMSB) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr62.8m (up 8.9% from 2Q 2023).
• Net income: kr30.5m (up 274% from 2Q 2023).
• Profit margin: 49% (up from 14% in 2Q 2023). The increase in margin was primarily driven by lower expenses.

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

Romsdal Sparebank Revenues Beat Expectations

Revenue exceeded analyst estimates by 6.2%.

Looking ahead, revenue is forecast to grow 2.2% 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 3.7% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Romsdal Sparebank that you need to be mindful of.

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