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Glacier Bancorp Q3 2022 Results Exceed Expectations

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Bancorp Glacier (NYSE: GBCI) Third quarter 2022 results

Main financial results

  • Revenue: $225.4 million (up 16% compared to Q3 2021).
  • Net income: $79.3 million (up 4.9% compared to the 3rd quarter of 2021).
  • Profit margin: 35% (vs. 39% in Q3 2021). The lower margin was driven by higher expenses.
  • EPS: $0.72.
NYSE: GBCI Earnings and Revenue Growth November 6, 2022

All figures shown in the table above are for the 12 month period (TTM)

Glacier Bancorp’s revenues and profits fall short of expectations

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) also missed analysts’ estimates of 1.1%.

Looking ahead, revenue is expected to grow by an average of 8.7% per year over the next 3 years, compared to a growth forecast of 6.2% for the banking sector in the United States.

Performance of the US banking industry.

Shares of the company are up 2.1% from a week ago.

Balance sheet analysis

While revenue is important, another area to consider is the balance sheet. We did some analysis and you can see our view on Glacier Bancorp’s balance sheet.

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