Southern States Bancshares Third Quarter 2024 Earnings: Beats Expectations

Simply Wall St.11-20

Southern States Bancshares (NASDAQ:SSBK) Third Quarter 2024 Results Key Financial Results Revenue: US$23.4m (up 37% from 3Q 2023). Net income: US$7.35m (up 11% from 3Q 2023). Profit margin: 31% (down...

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The decrease in margin was driven by higher expenses.NasdaqGS:SSBK Earnings and Revenue Growth November 19th 2024. All figures shown in the chart above are for the trailing 12 month  period. Revenue exceeded analyst estimates by 2.6%. Earnings per share  also surpassed analyst estimates by 49%.Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US.The company's share price is broadly unchanged from a week ago.Before you take the next step you should know about the 2 warning signs for Southern States Bancshares that we have uncovered.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"SSBK":"Southern States Bancshares, Inc.","SO":"美国南方公司"},"translate_title":"南方各州Bancshares 2024年第三季度收益：超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SO":1,"SSBK":1},"content_text":"Southern States Bancshares (NASDAQ:SSBK) Third Quarter 2024 Results\nKey Financial Results\n\nRevenue: US$23.4m (up 37% from 3Q 2023).\nNet income: US$7.35m (up 11% from 3Q 2023).\nProfit margin: 31% (down from 39% in 3Q 2023). The decrease in margin was driven by higher expenses.\nEPS: US$0.77 (up from US$0.75 in 3Q 2023).\n\n\n\n\n  NasdaqGS:SSBK Earnings and Revenue Growth November 19th 2024\n \n\nAll figures shown in the chart above are for the trailing 12 month (TTM) period\nSouthern States Bancshares Revenues and Earnings Beat Expectations\n Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 49%. \n Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in the US. \nPerformance of the American Banks industry.\n The company's share price is broadly unchanged from a week ago. \nRisk Analysis\n Before you take the next step you should know about the 2 warning signs for Southern States Bancshares that we have uncovered. \nHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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