Southside Bancshares Third Quarter 2024 Earnings: EPS Misses Expectations

Southside Bancshares (NASDAQ:SBSI) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$61.2m (up 7.2% from 3Q 2023).
• Net income: US$20.6m (up 11% from 3Q 2023).
• Profit margin: 34% (up from 32% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.68 (up from US$0.60 in 3Q 2023).

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

Southside Bancshares EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.3%.

Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 4.6% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Southside Bancshares' balance sheet health.

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