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Canadian Imperial Bank of Commerce Full Year 2022 Earnings: Misses Expectations

Canadian Imperial Bank of Commerce (TSE:CM) Full Year 2022 Results

Key Financial Results

  • Revenue: CA$20.8b (up 4.6% from FY 2021).

  • Net income: CA$6.05b (down 3.5% from FY 2021).

  • Profit margin: 29% (down from 32% in FY 2021). The decrease in margin was driven by higher expenses.

  • EPS: CA$6.70 (down from CA$6.98 in FY 2021).

CM Banking Performance Indicators

  • Net interest margin (NIM): 1.58% (down from 1.59% in FY 2021).

  • Cost-to-income ratio: 56.4% (up from 55.4% in FY 2021).

  • Non-performing loans: 0.34% (down from 0.40% in FY 2021).

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

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

Canadian Imperial Bank of Commerce Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 6.0%.

Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Banks industry in Canada.

Performance of the Canadian Banks industry.

The company's shares are down 8.8% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Canadian Imperial Bank of Commerce's balance sheet.

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.

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