Stock Analysis
- United States
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- Banks
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- NasdaqGS:CAC
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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About NasdaqGS:CAC
Camden National
Operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts.