Western Alliance Bancorporation Full Year 2023 Earnings: Misses Expectations
Western Alliance Bancorporation (NYSE:WAL) Full Year 2023 Results
Key Financial Results
Revenue: US$2.56b (up 3.4% from FY 2022).
Net income: US$709.6m (down 32% from FY 2022).
Profit margin: 28% (down from 42% in FY 2022). The decrease in margin was driven by higher expenses.
EPS: US$6.55 (down from US$9.74 in FY 2022).
WAL Banking Performance Indicators
Non-performing loans: 0.82% (up from 0.17% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Western Alliance Bancorporation Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 6.9%.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 4.0% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Western Alliance Bancorporation has 2 warning signs we think you should be aware of.
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