Cathay General Bancorp Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

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

Key Financial Results

• Revenue: US$175.0m (down 6.1% from 3Q 2023).
• Net income: US$67.5m (down 18% from 3Q 2023).
• Profit margin: 39% (down from 44% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.94 (down from US$1.14 in 3Q 2023).

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

Cathay General Bancorp Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 4.1%. Earnings per share (EPS) missed analyst estimates by 1.1%.

Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.6% 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

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Cathay General Bancorp that you should be aware of.

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