Merchants Bancorp Third Quarter 2024 Earnings: Misses Expectations

Merchants Bancorp (NASDAQ:MBIN) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$142.7m (down 4.6% from 3Q 2023).
• Net income: US$53.5m (down 27% from 3Q 2023).
• Profit margin: 38% (down from 49% in 3Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$1.17 (down from US$1.69 in 3Q 2023).

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

Merchants Bancorp Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) also missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are down 18% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Merchants Bancorp that we have uncovered.

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