Webster Financial Q3 2022 Results: Revenue Beats Expectations, EPS Lags
Webster Financial (NYSE:WBS) Third Quarter 2022 Results
Main financial results
- Revenue: $628.1 million (up 106% compared to Q3 2021).
- Net income: $229.8 million (up 147% compared to Q3 2021).
- Profit margin: 37% (compared to 31% in the 3rd quarter of 2021).
- The increase in the margin is explained by the increase in revenues.
- EPS: 1.32 USD (compared to 1.04 USD in the 3rd quarter of 2021).
All figures shown in the table above are for the 12 month period (TTM)
Webster Financial revenue beats expectations, EPS falls short
Revenue beat analysts’ estimates by 3.7%. Earnings per share (EPS) beat analysts’ estimates by 1.6%.
Looking ahead, revenue is expected to grow by an average of 12% per year over the next 3 years, compared to a growth forecast of 6.5% for the banking sector in the United States.
Performance of the US banking industry.
Shares of the company are up 6.6% from a week ago.
Remember that there may still be risks. For example, we have identified 2 warning signs for Webster Financial (1 is significant) which you should be aware of.
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