Loading...
•
Jun 30, 2024
Webster Q2 2024 Earnings Report
Reported EPS of $1.03 and adjusted EPS of $1.26 for the second quarter of 2024.
Key Takeaways
Webster Financial Corporation reported a net income available to common stockholders of $177.5 million, or $1.03 per diluted share, for the quarter ended June 30, 2024. The results include net securities repositioning losses of $0.231 per diluted share. Excluding this item, adjusted earnings per diluted share would have been $1.261 for the quarter ended June 30, 2024.
Revenue of $614.6 million.
Period end loan and lease balance of $51.6 billion, up 0.9 percent from prior quarter.
Period end deposit balance of $62.3 billion, up 2.5 percent from prior quarter.
Net interest margin of 3.32 percent, down 3 basis points from prior quarter.
Revenue by Segment
Forward Guidance
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “believes,” “anticipates,” “expects,” “intends,” “targeted,” “continue,” “remain,” “will,” “should,” “may,” “plans,” “estimates,” and similar references to future periods.
Positive Outlook
- Webster’s ability to successfully execute its business plan and strategic initiatives, and manage any risks or uncertainties
- The timely development and acceptance of new products and services, and the perceived value of those products and services by customers
- Webster’s ability to implement new technologies and maintain secure and reliable information and technology systems
- Webster’s ability to increase market share and control expenses
- Webster’s ability to maintain adequate sources of funding and liquidity
Challenges Ahead
- Continued regulatory changes or other mitigation efforts taken by government agencies in response to volatility in the banking industry, including due to the bank failures in 2023
- Volatility in Webster’s stock price due to investor sentiment and turmoil in the banking industry
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...