UMB Financial reports stronger-than-expected third-quarter results
UMB Financial reported third-quarter results on October 27, with adjusted EPS of $3.56 and revenue of $772.4M, both above analyst expectations. Net interest income rose 13.7% year-on-year to $540 million, while revenue increased 13.9% year-on-year. The company exceeded expectations for net interest income, net interest margin, revenue and adjusted EPS, but fell short on tangible book value per share.
Why it matters
The results improve the reported earnings and revenue trajectory for UMB Financial and provide updated data on its margin and fee-income performance. The reported tangible book value shortfall is a negative offset, although the materials do not quantify it.
Key facts
- 1UMB Financial reported third-quarter EPS of $3.56, exceeding the estimate by $0.35. investing.com
- 2Third-quarter revenue was $772.4M. investing.com
- 3Net interest income increased 13.7% year-on-year to $540 million. finance.yahoo.com
- 4Revenue grew 13.9% year-on-year to $772.4M. finance.yahoo.com
- 5Adjusted EPS beat estimates by 10.5%. finance.yahoo.com
- 6The company missed analysts' expectations for tangible book value per share. finance.yahoo.com
Open questions
- The pre-release estimates differed between materials: one cited $3.21 EPS and $742.5M revenue, while another cited $3.22 EPS and $744.8M revenue; the materials do not explain the difference in estimates.
- Only material 4 reports the tangible book value per share miss, and it does not provide the reported value or the estimate.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.