Webster Financial Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 10/18 10:10

Webster Financial (NYSE:WBS) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$593.6m (down 7.4% from 3Q 2023).
  • Net income: US$188.8m (down 14% from 3Q 2023).
  • Profit margin: 32% (down from 34% in 3Q 2023). The decrease in margin was driven by lower revenue.
  • EPS: US$1.10 (down from US$1.29 in 3Q 2023).
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NYSE:WBS Earnings and Revenue Growth October 18th 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 4.3%. Earnings per share (EPS) also missed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

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

Risk Analysis

Be aware that Webster Financial is showing 1 warning sign in our investment analysis that you should know about...