Live Oak Bancshares Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Live Oak Bancshares (NYSE:LOB) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$95.3m (down 19% from 3Q 2023).
• Net income: US$13.0m (down 67% from 3Q 2023).
• Profit margin: 14% (down from 34% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.29 (down from US$0.90 in 3Q 2023).

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

Live Oak Bancshares Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 49%.

Looking ahead, revenue is forecast to grow 22% 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 17% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Live Oak Bancshares that you should be aware of.

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