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).
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.
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