Yahoo Finance Northwest Bancshares First Quarter 2024 Earnings: Revenues Disappoint
Northwest Bancshares (NASDAQ:NWBI) First Quarter 2024 Results
Key Financial Results
Revenue: US$127.8m (down 2.8% from 1Q 2023).
Net income: US$29.2m (down 13% from 1Q 2023).
Profit margin: 23% (down from 26% in 1Q 2023).
EPS: US$0.23 (down from US$0.27 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Northwest Bancshares Revenues Disappoint
Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 2.7% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Northwest Bancshares has 2 warning signs (and 1 which is significant) we think you should know about.
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