Webster Financial (WBS) Tops Q1 EPS by 6c, Beats on Revenues

April 19, 2018 7:32 AM EDT

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Webster Financial (NYSE: WBS) reported Q1 EPS of $0.85, $0.06 better than the analyst estimate of $0.79. Revenue for the quarter came in at $282.9 million versus the consensus estimate of $210.03 million.

Highlights for the first quarter of 2018:

  • Revenue of $282.9 million, an increase of 10.6 percent from a year ago, including net interest income of $214.2 million, an increase of 11.2 percent from a year ago.
  • Loan growth of $711 million, or 4.2 percent from a year ago, with growth of $654 million, or 6.4 percent, in commercial and commercial real estate loans.
  • Deposit growth of $1.1 billion, or 5.6 percent from a year ago, with growth of $694 million, or 14.5 percent, in health savings account deposits.
  • Net interest margin of 3.44 percent, up 22 basis points from a year ago.
  • Pre-tax, pre-provision net revenue growth of $19.4 million, or 21.1 percent from a year ago, led by HSA Bank's growth of 59.6 percent.
  • Annualized return on average common shareholders' equity of 12.15 percent compared to 9.43 percent a year ago; annualized return on average tangible common shareholders' equity (non-GAAP) of 15.73 percent compared to 12.47 percent a year ago.

For earnings history and earnings-related data on Webster Financial (WBS) click here.

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