Carter Bankshares (NASDAQ:CARE) Full Year 2024 Results

Key Financial Results

• Revenue: US$140.9m (up 5.0% from FY 2023).
• Net income: US$24.3m (up 4.7% from FY 2023).
• Profit margin: 17% (in line with FY 2023).
• EPS: US$1.06 (up from US$1.00 in FY 2023).

CARE Banking Performance Indicators

• Net interest margin (NIM): 2.58% (down from 2.87% in FY 2023).
• Non-performing loans: 7.15% (down from 8.83% in FY 2023).

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

Carter Bankshares EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 4.8% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Carter Bankshares' balance sheet.

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