Columbia Banking System Third Quarter 2024 Earnings: Beats Expectations

Columbia Banking System (NASDAQ:COLB) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$467.6m (down 4.2% from 3Q 2023).
• Net income: US$146.2m (up 7.6% from 3Q 2023).
• Profit margin: 31% (up from 28% in 3Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$0.70 (up from US$0.65 in 3Q 2023).

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

Columbia Banking System Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 4.7% 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 shares are up 1.8% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Columbia Banking System's balance sheet and an in-depth analysis of the company's financial position.

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