Community West Bancshares Second Quarter 2024 Earnings: Misses Expectations

Community West Bancshares (NASDAQ:CWBC) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$20.6m (down 6.8% from 2Q 2023).
• Net loss: US$6.29m (down by 200% from US$6.28m profit in 2Q 2023).
• US$0.33 loss per share (down from US$0.54 profit in 2Q 2023).

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

Community West Bancshares Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 22%. Earnings per share (EPS) also missed analyst estimates by 60%.

Looking ahead, revenue is forecast to grow 33% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 7.8% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 3 warning signs for Community West Bancshares (of which 1 shouldn't be ignored!) you should know about.

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