In This Article:
Carter Bankshares (NASDAQ:CARE) Third Quarter 2024 Results
Key Financial Results
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Revenue: US$34.5m (up 8.7% from 3Q 2023).
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Net income: US$5.63m (up 57% from 3Q 2023).
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Profit margin: 16% (up from 11% in 3Q 2023). The increase in margin was driven by higher revenue.
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EPS: US$0.25 (up from US$0.16 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Carter Bankshares EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 7.5%.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 2.9% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for Carter Bankshares that you should be aware of.
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