Flagstar Financial Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Flagstar Financial (NYSE:FLG) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$381.0m (down 61% from 3Q 2023).
• Net loss: US$289.0m (down by 247% from US$197.0m profit in 3Q 2023).
• US$0.79 loss per share (down from US$0.82 profit in 3Q 2023).

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

Flagstar Financial Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 112%.

Looking ahead, revenue is forecast to grow 18% 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 7.1% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Flagstar Financial that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.