M&T Bank Third Quarter 2024 Earnings: EPS Beats Expectations

Simply Wall St · 10/18 10:31

M&T Bank (NYSE:MTB) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$2.21b (up 1.2% from 3Q 2023).
  • Net income: US$674.0m (up 1.5% from 3Q 2023).
  • Profit margin: 31% (in line with 3Q 2023).
  • EPS: US$4.04 (up from US$4.00 in 3Q 2023).
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NYSE:MTB Earnings and Revenue Growth October 18th 2024

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

M&T Bank EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 4.9% 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 11% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for M&T Bank that you need to take into consideration.