Australia markets closed
  • ALL ORDS

    7,709.50
    +21.50 (+0.28%)
     
  • ASX 200

    7,493.80
    +25.50 (+0.34%)
     
  • AUD/USD

    0.7110
    -0.0007 (-0.10%)
     
  • OIL

    79.38
    -1.63 (-2.01%)
     
  • GOLD

    1,927.60
    -2.40 (-0.12%)
     
  • BTC-AUD

    32,301.61
    +194.56 (+0.61%)
     
  • CMC Crypto 200

    526.66
    +9.65 (+1.87%)
     
  • AUD/EUR

    0.6538
    +0.0009 (+0.14%)
     
  • AUD/NZD

    1.0934
    -0.0026 (-0.24%)
     
  • NZX 50

    12,036.05
    +12.59 (+0.10%)
     
  • NASDAQ

    12,166.60
    +115.12 (+0.96%)
     
  • FTSE

    7,765.15
    +4.04 (+0.05%)
     
  • Dow Jones

    33,978.08
    +28.67 (+0.08%)
     
  • DAX

    15,150.03
    +17.18 (+0.11%)
     
  • Hang Seng

    22,688.90
    +122.12 (+0.54%)
     
  • NIKKEI 225

    27,382.56
    +19.81 (+0.07%)
     

OFG Bancorp Third Quarter 2022 Earnings: Beats Expectations

OFG Bancorp (NYSE:OFG) Third Quarter 2022 Results

Key Financial Results

  • Revenue: US$150.0m (up 7.0% from 3Q 2021).

  • Net income: US$41.9m (flat on 3Q 2021).

  • Profit margin: 28% (down from 30% in 3Q 2021). The decrease in margin was driven by higher expenses.

  • EPS: US$0.88 (up from US$0.82 in 3Q 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

OFG Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.1%.

Looking ahead, revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for OFG Bancorp that you should be aware of.

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.

Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here