Pinnacle Financial Partners Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/17 10:44

Pinnacle Financial Partners (NASDAQ:PNFP) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$440.5m (up 16% from 3Q 2023).
  • Net income: US$142.9m (up 11% from 3Q 2023).
  • Profit margin: 32% (down from 34% in 3Q 2023). The decrease in margin was driven by higher expenses.
  • EPS: US$1.87 (up from US$1.69 in 3Q 2023).
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NasdaqGS:PNFP Earnings and Revenue Growth October 17th 2024

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

Pinnacle Financial Partners Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 5.4%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 9.3% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Pinnacle Financial Partners' balance sheet.