Capital Bancorp First Quarter 2024 Earnings: EPS Misses Expectations

Simply Wall St · 05/13 10:44

Capital Bancorp (NASDAQ:CBNK) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$38.1m (down 2.0% from 1Q 2023).
  • Net income: US$6.56m (down 33% from 1Q 2023).
  • Profit margin: 17% (down from 25% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
  • EPS: US$0.47 (down from US$0.69 in 1Q 2023).
NasdaqGS:CBNK Earnings and Revenue Growth May 13th 2024

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

Capital Bancorp EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.7%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 1.0% from a week ago.

Risk Analysis

You should always think about risks. Case in point, we've spotted 1 warning sign for Capital Bancorp you should be aware of.