Bankwell Financial Group Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

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

Key Financial Results

• Revenue: US$15.6m (down 38% from 3Q 2023).
• Net income: US$1.93m (down 80% from 3Q 2023).
• Profit margin: 12% (down from 38% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.25 (down from US$1.25 in 3Q 2023).

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

Bankwell Financial Group EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) exceeded analyst estimates.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 1.5% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Bankwell Financial Group you should know about.

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