United Overseas Bank Third Quarter 2024 Earnings: Beats Expectations

United Overseas Bank (SGX:U11) Third Quarter 2024 Results

Key Financial Results

• Revenue: S$10.1b (up 215% from 3Q 2023).
• Net income: S$4.52b (up 227% from 3Q 2023).
• Profit margin: 45% (up from 43% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: S$2.70.

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

United Overseas Bank Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 5.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.6%.

Looking ahead, revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Banks industry in Asia.

Performance of the market in Singapore.

The company's shares are up 11% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for United Overseas Bank that you need to take into consideration.

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