Overview
Olympia Q3 revenue falls 6% yr/yr, with net income down 26%
Basic EPS for Q3 decreases 26% to C$1.93 per share
Service revenue rises 5% due to increased fees in IAS division
Outlook
Olympia Financial Group did not provide specific guidance for future quarters or the full year
Result Drivers
SERVICE REVENUE - Increase attributed to higher monthly and transaction fees from account growth in IAS division
INTEREST INCOME DECLINE - Decrease in trust, interest, and other income due to lower interest rates on trust fund placements
EXPENSES INCREASE - Rise in expenses driven by higher computer support and maintenance costs
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
C$23.80 mln
Q3 Net Income
C$4.63 mln
Q3 Basic EPS
C$1.93
Q3 Service Revenue
C$12.11 mln
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the corporate financial services peer group is "buy"
Wall Street's median 12-month price target for Olympia Financial Group Inc is C$177.66, about 31.1% above its November 12 closing price of C$122.38
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago
Press Release: ID:nNFC6sjXwH
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)