Wintrust Financial First Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 05/13 10:21

Wintrust Financial (NASDAQ:WTFC) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$582.7m (up 7.4% from 1Q 2023).
  • Net income: US$180.3m (up 4.1% from 1Q 2023).
  • Profit margin: 31% (down from 32% in 1Q 2023). The decrease in margin was driven by higher expenses.
  • EPS: US$2.93 (up from US$2.84 in 1Q 2023).
NasdaqGS:WTFC Earnings and Revenue Growth May 13th 2024

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

Wintrust Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 20%.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Wintrust Financial, and understanding it should be part of your investment process.