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Income Statement (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Revenue | 2.22B | 9.9% |
| Gross Profit | 1.09B | 23.4% |
| Cost of Revenue | 1.13B | 0.6% |
| Operating expense | 337M | 34.1% |
| Net Income | 517M | 23.4% |
| EBITDA | 768M | 57% |
Balance Sheet (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Total Assets | 201B | 3.6% |
| Total Liabilities | 180B | 3.3% |
| Total Equity | 20.6B | 6.6% |
| Shares Outstanding | 1.45B | 0.2% |
Cash Flow (USD)
| Q3 '24 | QoQ | |
|---|---|---|
| Cash from operations | 522M | 12.5% |
| Cash from financing | 2.46B | 36% |
EPS
Financial Highlights for Huntington Bancshares in Q3 '24
Huntington Bancshares reported a revenue of 2.22B, which is a 9.9% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 1.09B, marking a 23.4% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.13B, a -0.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 337M, showing a -34.1% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 517M, showing a 23.4% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 768M, showing a -57% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Huntington Bancshares with growth in revenue, gross profit, and net income. A decline in EBITDA signals potential operational challenges or increased costs.
