Stock Analysis

Eastern Bankshares Third Quarter 2024 Earnings: Misses Expectations

Published
NasdaqGS:EBC

Eastern Bankshares (NASDAQ:EBC) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$156.4m (up 4.9% from 3Q 2023).
  • Net loss: US$6.19m (down by 110% from US$63.5m profit in 3Q 2023).
  • US$0.031 loss per share (down from US$0.39 profit in 3Q 2023).
NasdaqGS:EBC Earnings and Revenue Growth October 26th 2024

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

Eastern Bankshares Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 8.7%. Earnings per share (EPS) was also behind analyst expectations.

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 down 7.9% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Eastern Bankshares that we have uncovered.

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Discover if Eastern Bankshares might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.