Stock Analysis

Western Alliance Bancorporation Second Quarter 2024 Earnings: Beats Expectations

NYSE:WAL
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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).
earnings-and-revenue-growth
NYSE:WAL Earnings and Revenue Growth August 5th 2024

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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