Western Alliance Bancorporation Second Quarter 2024 Earnings: Beats Expectations

Western Alliance Bancorporation (NYSE:WAL) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$734.7m (up 14% from 2Q 2023).
• Net income: US$190.4m (down 10% from 2Q 2023).
• Profit margin: 26% (down from 33% in 2Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.75 (down from US$1.96 in 2Q 2023).

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

Western Alliance Bancorporation Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 2.7%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 8.9% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Western Alliance Bancorporation.

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