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Washington Federal (WAFD) Reports Q3 Earnings: What Key Metrics Have to Say (Revised)

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For the quarter ended June 2023, Washington Federal (WAFD - Free Report) reported revenue of $182.47 million, up 7.8% over the same period last year. EPS came in at $0.89, compared to $0.91 in the year-ago quarter.

The reported revenue represents a surprise of -2.65% over the Zacks Consensus Estimate of $187.43 million. With the consensus EPS estimate being $0.92, the EPS surprise was -3.26%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Washington Federal performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Efficiency Ratio [%]: 51.9% versus 53.6% estimated by two analysts on average.
  • Net Interest Margin [%]: 3.27% versus 3.41% estimated by two analysts on average.
  • Total noninterest income: $13.77 million compared to the $14.38 million average estimate based on two analysts.
  • Net Interest Income: $168.70 million versus the two-analyst average estimate of $173.13 million.

View all Key Company Metrics for Washington Federal here>>>

Shares of Washington Federal have returned -4.4% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

(We are reissuing this article to correct a mistake. The original article, issued on July 14, 2023, should no longer be relied upon.)


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