Camden National First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Camden National (NASDAQ:CAC) First Quarter 2024 Results

Key Financial Results

• Revenue: US$43.7m (up 3.7% from 1Q 2023).
• Net income: US$13.3m (up 4.5% from 1Q 2023).
• Profit margin: 30% (in line with 1Q 2023).
• EPS: US$0.91 (up from US$0.87 in 1Q 2023).

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

Camden National EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 29%.

Looking ahead, revenue is forecast to grow 6.6% 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 shares are up 2.5% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Camden National's balance sheet health.

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