Mexicools
2023-01-15

$Wells Fargo(WFC)$  

Full year 2022 earnings: EPS exceeds analyst expectations

Full year 2022 results:

◈EPS: US$3.17 (down from US$4.99 in FY 2021).

◈Revenue: US$72.3b (down 13% from FY 2021).

◈Net income: US$12.1b (down 40% from FY 2021).

◈Profit margin: 17% (down from 24% in FY 2021). The decrease in margin was driven by lower revenue.

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.2%.

Revenue is forecast to grow 6.8% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.

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Comments

  • frosti
    2023-01-17
    frosti
    New 52 week lows will come this year as economy collapses.
  • nimbly
    2023-01-17
    nimbly
    CFRA upgrades opinion on WFC to buy from hold.
  • cheerzy
    2023-01-17
    cheerzy
    No resistance back to 48. Hold tight!
  • vippy
    2023-01-17
    vippy
    WFC has proven the crooks are just un investable and not even tradeable
  • Papa Bear
    2023-01-15
    Papa Bear
    ok
  • GoodLife99
    2023-01-15
    GoodLife99
    [Like]
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