NatWest Group (LON:NWG) First Quarter 2024 Results
Key Financial Results
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Revenue: UK£3.38b (down 11% from 1Q 2023).
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Net income: UK£922.0m (down 26% from 1Q 2023).
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Profit margin: 27% (down from 33% in 1Q 2023). The decrease in margin was driven by lower revenue.
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EPS: UK£0.10 (down from UK£0.13 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
NatWest Group Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) also surpassed analyst estimates by 8.8%.
Looking ahead, revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in the United Kingdom.
Performance of the British Banks industry.
The company’s shares are up 11% from a week ago.
Risk Analysis
It’s necessary to consider the ever-present spectre of investment risk. We’ve identified 2 warning signs with NatWest Group (at least 1 which is significant), and understanding them should be part of your investment process.
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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. Simply Wall St has no position in any stocks mentioned.
