Pinnacle Financial Partners Third Quarter 2024 Earnings: Beats Expectations

Pinnacle Financial Partners (NASDAQ:PNFP) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$440.5m (up 16% from 3Q 2023).
• Net income: US$142.9m (up 11% from 3Q 2023).
• Profit margin: 32% (down from 34% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.87 (up from US$1.69 in 3Q 2023).

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

Pinnacle Financial Partners Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.4%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 9.3% 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've done some analysis and you can see our take on Pinnacle Financial Partners' balance sheet.

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