Westamerica (WABC) Q3 Earnings Match Estimates

Company Performance - Westamerica (WABC) reported quarterly earnings of $1.27 per share, matching the Zacks Consensus Estimate, but down from $1.55 per share a year ago [1] - The company posted revenues of $74.07 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 1.83%, but down from $83 million year-over-year [1] - Over the last four quarters, Westamerica has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [1] Market Performance - Westamerica shares have declined approximately 9.4% since the beginning of the year, contrasting with the S&P 500's gain of 22.5% [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.23 on revenues of $71.33 million, and for the current fiscal year, it is $5.20 on revenues of $294.18 million [4] - The trend of estimate revisions for Westamerica is mixed, and future changes in estimates will be closely monitored following the recent earnings report [4] Industry Context - The Banks - West industry, to which Westamerica belongs, is currently ranked in the bottom 35% of over 250 Zacks industries, indicating potential challenges ahead [5] - Another bank in the same industry, RBB, is expected to report a quarterly earnings decline of 39.7% year-over-year, with revenues anticipated to drop by 20.2% [5]