Cathay General Bancorp First Quarter 2024 Earnings: Revenues Disappoint

Cathay General Bancorp (NASDAQ:CATY) First Quarter 2024 Results

Key Financial Results

• Revenue: US$173.3m (down 13% from 1Q 2023).
• Net income: US$71.4m (down 26% from 1Q 2023).
• Profit margin: 41% (down from 48% in 1Q 2023).
• EPS: US$0.98 (down from US$1.32 in 1Q 2023).

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

Cathay General Bancorp Earnings Insights

Looking ahead, revenue is forecast to grow 2.2% p.a. on average during the next 2 years, compared to a 5.9% 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

It is worth noting though that we have found 2 warning signs for Cathay General Bancorp (1 is a bit concerning!) that you need to take into consideration.

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