Westamerica Bancorporation Second Quarter 2024 Earnings: EPS Beats Expectations
Westamerica Bancorporation (NASDAQ:WABC) Second Quarter 2024 Results
Key Financial Results
Revenue: US$74.3m (down 7.8% from 2Q 2023).
Net income: US$35.5m (down 12% from 2Q 2023).
Profit margin: 48% (down from 50% in 2Q 2023). The decrease in margin was driven by lower revenue.
EPS: US$1.33 (down from US$1.51 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Westamerica Bancorporation EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.3%.
Looking ahead, revenue is expected to decline by 8.2% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 6.4%.
Performance of the American Banks industry.
The company's shares are down 4.2% from a week ago.
Risk Analysis
Be aware that Westamerica Bancorporation is showing 1 warning sign in our investment analysis that you should know about...
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