Coastal Financial (NASDAQ:CCB) Third Quarter 2022 Results
Key Financial Results
Revenue: US$65.2m (up 164% from 3Q 2021).
Net income: US$11.1m (up 66% from 3Q 2021).
Profit margin: 17% (down from 27% in 3Q 2021). The decrease in margin was driven by higher expenses.
EPS: US$0.86 (up from US$0.56 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Coastal Financial Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) also surpassed analyst estimates by 3.8%.
Looking ahead, revenue is forecast to grow 37% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Banks industry in the US.
The company's shares are down 1.2% from a week ago.
What about risks? Every company has them, and we've spotted 2 warning signs for Coastal Financial you should know about.
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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.
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