Renasant Third Quarter 2024 Earnings: Beats Expectations

Renasant (NYSE:RNST) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$219.4m (up 37% from 3Q 2023).
• Net income: US$72.5m (up 73% from 3Q 2023).
• Profit margin: 33% (up from 26% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.18 (up from US$0.74 in 3Q 2023).

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

Renasant Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 26%.

Looking ahead, revenue is forecast to grow 23% 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 share price is broadly unchanged from a week ago.

Risk Analysis

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

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