Camden National Third Quarter 2024 Earnings: Beats Expectations

Camden National (NASDAQ:CAC) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$44.8m (up 17% from 3Q 2023).
• Net income: US$13.1m (up 34% from 3Q 2023).
• Profit margin: 29% (up from 26% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.90 (up from US$0.67 in 3Q 2023).

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

Camden National Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 19% 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 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. We have a graphic representation of Camden National's balance sheet and an in-depth analysis of the company's financial position.

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