Synovus Financial Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/18 10:49

Synovus Financial (NYSE:SNV) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$541.3m (up 13% from 3Q 2023).
  • Net income: US$181.6m (up 108% from 3Q 2023).
  • Profit margin: 34% (up from 18% in 3Q 2023). The increase in margin was primarily driven by higher revenue.
  • EPS: US$1.27 (up from US$0.60 in 3Q 2023).
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NYSE:SNV Earnings and Revenue History October 18th 2024

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

Synovus Financial Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.7%.

Looking ahead, revenue is forecast to grow 16% 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 16% from a week ago.

Risk Analysis

You should learn about the 1 warning sign we've spotted with Synovus Financial.