Berkshire Hills Bancorp Third Quarter 2024 Earnings: Beats Expectations

Berkshire Hills Bancorp (NYSE:BHLB) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$120.1m (up 20% from 3Q 2023).
• Net income: US$37.5m (up 92% from 3Q 2023).
• Profit margin: 31% (up from 20% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.89 (up from US$0.45 in 3Q 2023).

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

Berkshire Hills Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 13% 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 3.7% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Berkshire Hills Bancorp that you should be aware of before investing here.

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