Canadian Western Bank First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
Canadian Western Bank (TSE:CWB) First Quarter 2024 Results
Key Financial Results
Revenue: CA$272.0m (down 3.3% from 1Q 2023).
Net income: CA$93.9m (flat on 1Q 2023).
Profit margin: 35% (in line with 1Q 2023).
EPS: CA$0.97 (down from CA$0.99 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Canadian Western Bank EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) exceeded analyst estimates by 1.1%.
Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Banks industry in Canada.
Performance of the Canadian Banks industry.
The company's shares are down 2.2% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of Canadian Western Bank's balance sheet and an in-depth analysis of the company's financial position.
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