Atlantic Union Bankshares First Quarter 2024 Earnings: EPS Misses Expectations

Atlantic Union Bankshares (NYSE:AUB) First Quarter 2024 Results

Key Financial Results

• Revenue: US$165.1m (up 9.2% from 1Q 2023).
• Net income: US$46.8m (up 43% from 1Q 2023).
• Profit margin: 28% (up from 22% in 1Q 2023).
• EPS: US$0.62 (up from US$0.44 in 1Q 2023).

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

Atlantic Union Bankshares EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.3%.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Atlantic Union Bankshares' balance sheet health.

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