Eastern Bankshares Third Quarter 2024 Earnings: Misses Expectations

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).

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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