Yahoo Finance City Holding First Quarter 2024 Earnings: Beats Expectations
City Holding (NASDAQ:CHCO) First Quarter 2024 Results
Key Financial Results
Revenue: US$72.6m (up 4.8% from 1Q 2023).
Net income: US$29.3m (up 21% from 1Q 2023).
Profit margin: 40% (up from 35% in 1Q 2023). The increase in margin was primarily driven by higher revenue.
EPS: US$1.98 (up from US$1.63 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
City Holding Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 6.0%.
Looking ahead, revenue is forecast to stay flat during the next 2 years compared to a 6.0% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 5.2% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 2 warning signs for City Holding (1 is potentially serious!) that you need to be mindful of.
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