Stock Analysis

UMB Financial First Quarter 2024 Earnings: Beats Expectations

NasdaqGS:UMBF

UMB Financial (NASDAQ:UMBF) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$388.7m (up 12% from 1Q 2023).
  • Net income: US$110.3m (up 19% from 1Q 2023).
  • Profit margin: 28% (up from 27% in 1Q 2023). The increase in margin was driven by higher revenue.
  • EPS: US$2.27 (up from US$1.91 in 1Q 2023).
NasdaqGS:UMBF Earnings and Revenue Growth May 1st 2024

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

UMB Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 27%.

Looking ahead, revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 4.9% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for UMB Financial that you should be aware of.

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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.