Third Coast Bancshares Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 10/25 14:35

Third Coast Bancshares (NASDAQ:TCBX) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$41.8m (up 21% from 3Q 2023).
  • Net income: US$11.6m (up 164% from 3Q 2023).
  • Profit margin: 28% (up from 13% in 3Q 2023).
  • EPS: US$0.85 (up from US$0.32 in 3Q 2023).
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NasdaqGS:TCBX Earnings and Revenue Growth October 25th 2024

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

Third Coast Bancshares Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 36%.

Looking ahead, revenue is forecast to grow 8.2% 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 2.5% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Third Coast Bancshares' balance sheet health.