IGM Financial Third Quarter 2022 Earnings: Beats Expectations
IGM Financial (TSE:IGM) Third Quarter 2022 Results
Key Financial Results
Revenue: CA$900.2m (down 7.8% from 3Q 2021).
Net income: CA$216.1m (down 20% from 3Q 2021).
Profit margin: 24% (down from 28% in 3Q 2021). The decrease in margin was driven by lower revenue.
EPS: CA$0.91 (down from CA$1.13 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
IGM Financial Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 1.9% growth forecast for the Capital Markets industry in Canada.
Performance of the Canadian Capital Markets industry.
The company's shares are up 2.7% 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 IGM Financial's balance sheet and an in-depth analysis of the company's financial position.
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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.
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