In This Article:
Western New England Bancorp (NASDAQ:WNEB) Third Quarter 2024 Results
Key Financial Results
-
Revenue: US$16.9m (down 10% from 3Q 2023).
-
Net income: US$1.90m (down 58% from 3Q 2023).
-
Profit margin: 11% (down from 24% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.
-
EPS: US$0.092 (down from US$0.21 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Western New England Bancorp EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 13%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 6.6% 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
Before you take the next step you should know about the 3 warning signs for Western New England Bancorp that we have uncovered.
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.