Shore Bancshares Third Quarter 2023 Earnings: Misses Expectations
Shore Bancshares (NASDAQ:SHBI) Third Quarter 2023 Results
Key Financial Results
Revenue: US$23.6m (down 26% from 3Q 2022).
Net loss: US$9.74m (down by 201% from US$9.66m profit in 3Q 2022).
US$0.29 loss per share (down from US$0.49 profit in 3Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Shore Bancshares Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 11%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 3.1% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Shore Bancshares has 4 warning signs (and 1 which can't be ignored) we think you should know about.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
