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Cadence (CADE) Reports Q2 Earnings: What Key Metrics Have to Say
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Cadence (CADE - Free Report) reported $456.98 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.9%. EPS of $0.69 for the same period compares to $0.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $439.63 million, representing a surprise of +3.95%. The company delivered an EPS surprise of +15.00%, with the consensus EPS estimate being $0.60.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 3.3% versus the six-analyst average estimate of 3.2%.
Average Balance - Total interest earning assets: $43.85 billion versus $44.23 billion estimated by five analysts on average.
Efficiency Ratio fully tax equivalent: 56.1% compared to the 59.5% average estimate based on four analysts.
Net charge-offs to average loans: 0.3% versus the four-analyst average estimate of 0.3%.
Non-Performing Assets: $221.54 million compared to the $290.93 million average estimate based on two analysts.
Tier 1 capital: 12.3% versus 12.1% estimated by two analysts on average.
Total capital: 14.2% versus the two-analyst average estimate of 14.6%.
Non-Performing Loans: $216.75 million compared to the $283.27 million average estimate based on two analysts.
Total noninterest income: $100.66 million versus the six-analyst average estimate of $85.40 million.
Net Interest Income (FTE): $356.96 million compared to the $355.13 million average estimate based on five analysts.
Net Interest Income: $356.32 million versus the five-analyst average estimate of $353.96 million.
Credit card, debit card and merchant fees: $12.77 million versus the three-analyst average estimate of $13.72 million.
Shares of Cadence have returned +15.3% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Cadence (CADE) Reports Q2 Earnings: What Key Metrics Have to Say
Cadence (CADE - Free Report) reported $456.98 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.9%. EPS of $0.69 for the same period compares to $0.64 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $439.63 million, representing a surprise of +3.95%. The company delivered an EPS surprise of +15.00%, with the consensus EPS estimate being $0.60.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: 3.3% versus the six-analyst average estimate of 3.2%.
- Average Balance - Total interest earning assets: $43.85 billion versus $44.23 billion estimated by five analysts on average.
- Efficiency Ratio fully tax equivalent: 56.1% compared to the 59.5% average estimate based on four analysts.
- Net charge-offs to average loans: 0.3% versus the four-analyst average estimate of 0.3%.
- Non-Performing Assets: $221.54 million compared to the $290.93 million average estimate based on two analysts.
- Tier 1 capital: 12.3% versus 12.1% estimated by two analysts on average.
- Total capital: 14.2% versus the two-analyst average estimate of 14.6%.
- Non-Performing Loans: $216.75 million compared to the $283.27 million average estimate based on two analysts.
- Total noninterest income: $100.66 million versus the six-analyst average estimate of $85.40 million.
- Net Interest Income (FTE): $356.96 million compared to the $355.13 million average estimate based on five analysts.
- Net Interest Income: $356.32 million versus the five-analyst average estimate of $353.96 million.
- Credit card, debit card and merchant fees: $12.77 million versus the three-analyst average estimate of $13.72 million.
View all Key Company Metrics for Cadence here>>>Shares of Cadence have returned +15.3% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.