VersaBank First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag
VersaBank (TSE:VBNK) First Quarter 2024 Results
Key Financial Results
Revenue: CA$29.0m (up 14% from 1Q 2023).
Net income: CA$12.7m (up 39% from 1Q 2023).
Profit margin: 44% (up from 36% in 1Q 2023).
EPS: CA$0.48 (up from CA$0.34 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
VersaBank EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) exceeded analyst estimates by 5.1%.
Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 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 11% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on VersaBank's balance sheet health.
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