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Cadence (CADE) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2023, Cadence (CADE - Free Report) reported revenue of $465.84 million, up 3.5% over the same period last year. EPS came in at $0.64, compared to $0.73 in the year-ago quarter.
The reported revenue represents a surprise of -2.13% over the Zacks Consensus Estimate of $475.99 million. With the consensus EPS estimate being $0.67, the EPS surprise was -4.48%.
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 Cadence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.03% versus 3.19% estimated by six analysts on average.
Efficiency Ratio: 65.08% compared to the 61.95% average estimate based on six analysts.
Net charge-offs to average loans: 0.16% versus the four-analyst average estimate of 0.11%.
Average Balance - Total interest earning assets: $44.23 billion versus the four-analyst average estimate of $44.60 billion.
Total noninterest income: $132.29 million versus $122.93 million estimated by six analysts on average.
Net Interest Income (FTE): $334.61 million versus $352.64 million estimated by five analysts on average.
Net Interest Income: $333.55 million versus $355.29 million estimated by five analysts on average.
Wealth Management: $21.74 million versus the three-analyst average estimate of $21.06 million.
Deposit Service charges: $17.21 million versus the three-analyst average estimate of $15.77 million.
Credit card, debit card and merchant fees: $12.62 million versus $16.10 million estimated by three analysts on average.
Other noninterest income: $26.70 million versus the three-analyst average estimate of $24.70 million.
Insurance commissions: $45.60 million versus the three-analyst average estimate of $38.28 million.
Shares of Cadence have returned +18.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Cadence (CADE) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2023, Cadence (CADE - Free Report) reported revenue of $465.84 million, up 3.5% over the same period last year. EPS came in at $0.64, compared to $0.73 in the year-ago quarter.
The reported revenue represents a surprise of -2.13% over the Zacks Consensus Estimate of $475.99 million. With the consensus EPS estimate being $0.67, the EPS surprise was -4.48%.
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 Cadence performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.03% versus 3.19% estimated by six analysts on average.
- Efficiency Ratio: 65.08% compared to the 61.95% average estimate based on six analysts.
- Net charge-offs to average loans: 0.16% versus the four-analyst average estimate of 0.11%.
- Average Balance - Total interest earning assets: $44.23 billion versus the four-analyst average estimate of $44.60 billion.
- Total noninterest income: $132.29 million versus $122.93 million estimated by six analysts on average.
- Net Interest Income (FTE): $334.61 million versus $352.64 million estimated by five analysts on average.
- Net Interest Income: $333.55 million versus $355.29 million estimated by five analysts on average.
- Wealth Management: $21.74 million versus the three-analyst average estimate of $21.06 million.
- Deposit Service charges: $17.21 million versus the three-analyst average estimate of $15.77 million.
- Credit card, debit card and merchant fees: $12.62 million versus $16.10 million estimated by three analysts on average.
- Other noninterest income: $26.70 million versus the three-analyst average estimate of $24.70 million.
- Insurance commissions: $45.60 million versus the three-analyst average estimate of $38.28 million.
View all Key Company Metrics for Cadence here>>>Shares of Cadence have returned +18.8% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.