Bankwell Financial Group First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Bankwell Financial Group (NASDAQ:BWFG) First Quarter 2024 Results

Key Financial Results

• Revenue: US$18.4m (down 30% from 1Q 2023).
• Net income: US$3.66m (down 64% from 1Q 2023).
• Profit margin: 20% (down from 39% in 1Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.48 (down from US$1.34 in 1Q 2023).

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

Bankwell Financial Group Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 6.3%. Earnings per share (EPS) missed analyst estimates by 33%.

Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Bankwell Financial Group has 2 warning signs (and 1 which doesn't sit too well with us) we think you should know about.

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