Yahoo Finance Live Oak Bancshares First Quarter 2024 Earnings: Misses Expectations
Live Oak Bancshares (NYSE:LOB) First Quarter 2024 Results
Key Financial Results
Revenue: US$99.8m (up 21% from 1Q 2023).
Net income: US$16.5m (up by US$16.2m from 1Q 2023).
Profit margin: 17% (up from 0.5% in 1Q 2023). The increase in margin was driven by higher revenue.
EPS: US$0.37 (up from US$0.009 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Live Oak Bancshares Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 23%.
Looking ahead, revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 6.6% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 1 warning sign for Live Oak Bancshares you should be aware of.
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