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Cathay (CATY) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2023, Cathay General (CATY - Free Report) reported revenue of $193.48 million, down 6.7% over the same period last year. EPS came in at $1.13, compared to $1.35 in the year-ago quarter.
The reported revenue represents a surprise of -1.89% over the Zacks Consensus Estimate of $197.2 million. With the consensus EPS estimate being $1.12, the EPS surprise was +0.89%.
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 Cathay performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 48.6% versus the three-analyst average estimate of 46.9%.
Net Interest Margin: 3.4% compared to the 3.4% average estimate based on three analysts.
Average balance - Total interest-earning assets: $21.78 billion versus $21.86 billion estimated by three analysts on average.
Tier 1 leverage capital ratio: 10.4% compared to the 10.5% average estimate based on two analysts.
Net interest income before provision for loan losses: $185.64 million compared to the $184.74 million average estimate based on three analysts.
Total Non-Interest Income: $7.84 million compared to the $11.80 million average estimate based on three analysts.
Letters of credit commissions: $1.74 million versus $1.84 million estimated by two analysts on average.
Shares of Cathay have returned -4.2% 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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Cathay (CATY) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Cathay General (CATY - Free Report) reported revenue of $193.48 million, down 6.7% over the same period last year. EPS came in at $1.13, compared to $1.35 in the year-ago quarter.
The reported revenue represents a surprise of -1.89% over the Zacks Consensus Estimate of $197.2 million. With the consensus EPS estimate being $1.12, the EPS surprise was +0.89%.
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 Cathay performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 48.6% versus the three-analyst average estimate of 46.9%.
- Net Interest Margin: 3.4% compared to the 3.4% average estimate based on three analysts.
- Average balance - Total interest-earning assets: $21.78 billion versus $21.86 billion estimated by three analysts on average.
- Tier 1 leverage capital ratio: 10.4% compared to the 10.5% average estimate based on two analysts.
- Net interest income before provision for loan losses: $185.64 million compared to the $184.74 million average estimate based on three analysts.
- Total Non-Interest Income: $7.84 million compared to the $11.80 million average estimate based on three analysts.
- Letters of credit commissions: $1.74 million versus $1.84 million estimated by two analysts on average.
View all Key Company Metrics for Cathay here>>>Shares of Cathay have returned -4.2% 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.