Romsdal Sparebank Third Quarter 2024 Earnings: Revenues Beat Expectations

Romsdal Sparebank (OB:ROMSB) Third Quarter 2024 Results

Key Financial Results

• Revenue: kr55.5m (up 21% from 3Q 2023).
• Net income: kr18.0m (up 355% from 3Q 2023).
• Profit margin: 32% (up from 8.6% in 3Q 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

Romsdal Sparebank Revenues Beat Expectations

Revenue exceeded analyst estimates by 38%.

Looking ahead, revenue is forecast to grow 2.1% 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 share price is broadly unchanged from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 3 warning signs with Romsdal Sparebank, and understanding these should be part of your investment process.

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