Yahoo Finance Laurentian Bank of Canada First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
Laurentian Bank of Canada (TSE:LB) First Quarter 2024 Results
Key Financial Results
Revenue: CA$241.4m (down 1.3% from 1Q 2023).
Net income: CA$32.7m (down 31% from 1Q 2023).
Profit margin: 14% (down from 19% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
EPS: CA$0.75 (down from CA$1.09 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Laurentian Bank of Canada Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 12%.
Looking ahead, revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Banks industry in Canada.
Performance of the Canadian Banks industry.
The company's share price is broadly unchanged from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for Laurentian Bank of Canada that you need to take into consideration.
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