Merchants Bancorp Second Quarter 2024 Earnings: EPS Misses Expectations

Merchants Bancorp (NASDAQ:MBIN) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$149.5m (up 32% from 2Q 2023).
• Net income: US$76.4m (up 35% from 2Q 2023).
• Profit margin: 51% (in line with 2Q 2023).
• EPS: US$1.71 (up from US$1.31 in 2Q 2023).

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

Merchants Bancorp EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.8%.

Looking ahead, revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are down 13% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Merchants Bancorp (1 doesn't sit too well with us!) that you should be aware of.

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