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

Flagstar Financial (NYSE:NYCB) 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 100%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 9.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Flagstar Financial that you need to be mindful of.

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