Sparebank 68° Nord Third Quarter 2024 Earnings: Revenues Beat Expectations
Sparebank 68° Nord (OB:SB68) Third Quarter 2024 Results
Key Financial Results
- Revenue: kr82.4m (up 15% from 3Q 2023).
- Net income: kr31.7m (up 184% from 3Q 2023).
- Profit margin: 39% (up from 16% in 3Q 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
Sparebank 68° Nord Revenues Beat Expectations
Revenue exceeded analyst estimates by 2.1%.
Looking ahead, revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 1.1% growth forecast for the Banks industry in Norway.
Performance of the Norwegian Banks industry.
The company's shares are down 4.0% from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for Sparebank 68° Nord that you need to take into consideration.
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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:SB68
Sparebank 68° Nord
Operates as a savings bank that provides a range of banking services to personal and corporate market in Norway.
Good value with reasonable growth potential and pays a dividend.
