The Bank Of Nova Scotia (NYSE:BNS) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
The Bank Of Nova Scotia Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.32% to $1.32 in the quarter versus EPS of $1.23 in the year-earlier quarter.
Revenue: Decreased 27.61% to $5.32 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Bank Of Nova Scotia reported adjusted EPS income of $1.32 per share. By that measure, the company met the mean analyst estimate of $1.32. It beat the average revenue estimate of $5.3 billion.
Quoting Management: “We are very satisfied with our results and our top-line revenue growth this quarter, reflecting the value of our diversified business model,” said Rick Waugh, Scotiabank CEO. “Canadian Banking and Global Wealth Management had strong earnings growth while contributions by International Banking and Global Banking and Markets were more moderate.
Key Stats (on next page)…
Revenue decreased 24.83% from $7.08 billion in the previous quarter. EPS increased 6.45% from $1.24 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.32 to a profit $1.34. For the current year, the average estimate has moved up from a profit of $5.14 to a profit of $5.15 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)