Northwest Bancshares Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Northwest Bancshares (NASDAQ:NWBI) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$98.4m (down 24% from 2Q 2023).
• Net income: US$4.75m (down 86% from 2Q 2023).
• Profit margin: 4.8% (down from 26% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.04 (down from US$0.26 in 2Q 2023).

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

Northwest Bancshares EPS Beats Expectations, Revenues Fall Short

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

Looking ahead, revenue is forecast to grow 10% 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 up 2.6% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Northwest Bancshares.

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