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Columbia Financial Full Year 2023 Earnings: EPS Misses Expectations

Columbia Financial (NASDAQ:CLBK) Full Year 2023 Results

Key Financial Results

  • Revenue: US$228.5m (down 22% from FY 2022).

  • Net income: US$36.1m (down 58% from FY 2022).

  • Profit margin: 16% (down from 30% in FY 2022). The decrease in margin was driven by lower revenue.

  • EPS: US$0.35 (down from US$0.82 in FY 2022).

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

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

Columbia Financial EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%.

Looking ahead, revenue is expected to decline by 4.9% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 5.6%.

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Performance of the American Banks industry.

The company's shares are up 2.2% from a week ago.

Valuation

Following the latest earnings results, Columbia Financial may be overvalued based on 6 different valuation benchmarks we assess. To explore our complete evaluation click here and get an understanding of what analysts are thinking about the company's future.

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.