Cass Information Systems Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Cass Information Systems (NASDAQ:CASS) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$55.6m (up 2.9% from 3Q 2023).
• Net income: US$2.94m (down 60% from 3Q 2023).
• Profit margin: 5.3% (down from 14% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.22 (down from US$0.55 in 3Q 2023).

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

Cass Information Systems Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 58%.

Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 6.8% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are up 3.9% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Cass Information Systems' balance sheet.

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