Webster Financial First Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 05/13 10:26

Webster Financial (NYSE:WBS) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$621.6m (flat on 1Q 2023).
  • Net income: US$210.1m (down 2.3% from 1Q 2023).
  • Profit margin: 34% (in line with 1Q 2023).
  • EPS: US$1.23 (down from US$1.24 in 1Q 2023).
NYSE:WBS Earnings and Revenue Growth May 13th 2024

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 2.1%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 8.2% 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 Webster Financial, and understanding this should be part of your investment process.