Columbia Banking System Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/25 12:24

Columbia Banking System (NASDAQ:COLB) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$467.6m (down 4.2% from 3Q 2023).
  • Net income: US$146.2m (up 7.6% from 3Q 2023).
  • Profit margin: 31% (up from 28% in 3Q 2023). The increase in margin was driven by lower expenses.
  • EPS: US$0.70 (up from US$0.65 in 3Q 2023).
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NasdaqGS:COLB Earnings and Revenue Growth October 25th 2024

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

Columbia Banking System Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 4.7% 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 1.8% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Columbia Banking System's balance sheet and an in-depth analysis of the company's financial position.