In This Article:
Customers Bancorp (NYSE:CUBI) Third Quarter 2024 Results
Key Financial Results
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Revenue: US$150.0m (down 25% from 3Q 2023).
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Net income: US$42.9m (down 48% from 3Q 2023).
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Profit margin: 29% (down from 42% in 3Q 2023). The decrease in margin was driven by lower revenue.
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EPS: US$1.36 (down from US$2.65 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Customers Bancorp Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 7.1%. Earnings per share (EPS) also missed analyst estimates by 8.5%.
Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 6.4% from a week ago.
Risk Analysis
Be aware that Customers Bancorp is showing 1 warning sign in our investment analysis that you should know about...
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