Advertisement
New Zealand markets open in 9 hours 56 minutes
  • NZX 50

    11,698.51
    -166.38 (-1.40%)
     
  • NZD/USD

    0.6113
    -0.0032 (-0.51%)
     
  • ALL ORDS

    7,943.60
    -31.20 (-0.39%)
     
  • OIL

    78.78
    +0.33 (+0.42%)
     
  • GOLD

    2,334.30
    -14.80 (-0.63%)
     

Camden National First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Camden National (NASDAQ:CAC) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$43.7m (up 3.7% from 1Q 2023).

  • Net income: US$13.3m (up 4.5% from 1Q 2023).

  • Profit margin: 30% (in line with 1Q 2023).

  • EPS: US$0.91 (up from US$0.87 in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

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

Camden National EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 29%.

Looking ahead, revenue is forecast to grow 6.6% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.

ADVERTISEMENT

Performance of the American Banks industry.

The company's shares are up 2.5% 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. See our latest analysis on Camden National's balance sheet health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.