Bank of Nova Scotia (TSE:BNS) Second Quarter 2023 Results
Key Financial Results
Revenue: CA$7.22b (down 6.5% from 2Q 2022).
Net income: CA$2.03b (down 22% from 2Q 2022).
Profit margin: 28% (down from 34% in 2Q 2022). The decrease in margin was primarily driven by lower revenue.
EPS: CA$1.70 (down from CA$2.16 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Bank of Nova Scotia EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%.
Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Banks industry in Canada.
The company's share price is broadly unchanged from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Bank of Nova Scotia's balance sheet.
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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.
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