Commerce Bancshares Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/18 10:24

Commerce Bancshares (NASDAQ:CBSH) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$416.1m (up 8.3% from 3Q 2023).
  • Net income: US$138.0m (up 16% from 3Q 2023).
  • Profit margin: 33% (up from 31% in 3Q 2023). The increase in margin was driven by higher revenue.
  • EPS: US$1.07 (up from US$0.92 in 3Q 2023).
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NasdaqGS:CBSH Earnings and Revenue Growth October 18th 2024

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

Commerce Bancshares Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 6.1%.

Looking ahead, revenue is forecast to grow 3.5% 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 4.7% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Commerce Bancshares that you should be aware of.