Sparebanken Sør Second Quarter 2024 Earnings: EPS Beats Expectations

Sparebanken Sør (OB:SOR) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr994.0m (up 13% from 2Q 2023).
• Net income: kr503.0m (up 211% from 2Q 2023).
• Profit margin: 51% (up from 19% in 2Q 2023). The increase in margin was primarily driven by lower expenses.
• EPS: kr4.60 (up from kr3.90 in 2Q 2023).

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

Sparebanken Sør EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.0%.

Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Banks industry in Norway.

Performance of the Norwegian Banks industry.

The company's shares are down 2.9% from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for Sparebanken Sør that you should be aware of before investing here.

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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.