Webster Financial Third Quarter 2024 Earnings: Misses Expectations

Webster Financial (NYSE:WBS) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$593.6m (down 7.4% from 3Q 2023).
• Net income: US$186.8m (down 15% from 3Q 2023).
• Profit margin: 32% (down from 34% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$1.10 (down from US$1.29 in 3Q 2023).

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

Webster Financial Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) also missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 14% from a week ago.

Risk Analysis

Be aware that Webster Financial is showing 1 warning sign in our investment analysis that you should know about...

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