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Webster Financial Corporation  (WBS)
    Sector  Financial    Industry Commercial Banks
   Industry Commercial Banks
   Sector  Financial
 

Significant EPS Contraction at WBS in the fourth quarter of 2022

WBS reported fourth quarter of 2022 operating surplus of $313.164 millions


Published Mar 13 2023
CSIMarket Team / CSIMarket.com


NYCSkylineBy_FASTILY_(Own_Work)_[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_Commons.jpg company announced earnings per share of $0.81 and Revenue of $628.11 millions in the Dec 31 2022 report, WBSs' earnings per share dropped $0.81 per share, versus $1.19 eps, earned in the similar three months a year prior, although WBS saw its Revenue rise by 99.311 % in the similar period.

On the contrary to Q3 Revenues increased by 5.325 % from $628.11 millions and income faded by -37.8 % from $1.31 per share.


Bottom-line of $244.751 millions in the fourth quarter of 2022 increased by 120.42 % from net earnings of $111.038 millions reported in the fourth quarter of 2022 a year ago. Webster Financial Corporation also emphasized it's improving profit margins, where net margin rose to 37% in fourth quarter of 2022, and operating margin edged up to 47.34%.
Operating earnings, however, rose 120.43% to $313.164 millions. Analyzing further the business numbers for the financial period 2022, company announced Revenues of $2.19 billions and net earnings of $644.28 millions.

Commercial Banks company explained as well, that Profits per share fell by -15.84 % to $3.72 per share from $4.42 in the preceding financial period , industry's contribution addsRevenues surged by 71.58 % from $1.28 billions a year prior.

Webster Financial Corporation is expected to report next financial earnings on May 12, 2023.



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