Advertisement
Canada markets closed
  • S&P/TSX

    24,471.17
    +168.91 (+0.70%)
     
  • S&P 500

    5,815.03
    +34.98 (+0.61%)
     
  • DOW

    42,863.86
    +409.74 (+0.97%)
     
  • CAD/USD

    0.7266
    -0.0011 (-0.16%)
     
  • CRUDE OIL

    75.49
    -0.36 (-0.47%)
     
  • Bitcoin CAD

    86,102.02
    -1,070.86 (-1.23%)
     
  • XRP CAD

    0.73
    -0.01 (-1.88%)
     
  • GOLD FUTURES

    2,674.20
    +34.90 (+1.32%)
     
  • RUSSELL 2000

    2,234.41
    +45.99 (+2.10%)
     
  • 10-Yr Bond

    4.0730
    -0.0230 (-0.56%)
     
  • NASDAQ

    18,342.94
    +60.89 (+0.33%)
     
  • VOLATILITY

    20.46
    -0.47 (-2.25%)
     
  • FTSE

    8,253.65
    +15.92 (+0.19%)
     
  • NIKKEI 225

    39,605.80
    +224.91 (+0.57%)
     
  • CAD/EUR

    0.6642
    -0.0011 (-0.17%)
     

Camden National Second Quarter 2024 Earnings: Beats Expectations

Camden National (NASDAQ:CAC) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$42.2m (down 1.2% from 2Q 2023).

  • Net income: US$12.0m (down 3.1% from 2Q 2023).

  • Profit margin: 28% (in line with 2Q 2023).

  • EPS: US$0.82 (down from US$0.85 in 2Q 2023).

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

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

Camden National Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 3.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Camden National's balance sheet and an in-depth analysis of the company's financial position.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com