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Carter Bankshares, Inc. Announces Fourth Quarter and Full Year 2024 Financial Results

1. CARE reports Q4 2024 net income of $8.3 million, up from previous quarters. 2. EPS improved from $0.24 in Q3 2024 to $0.36 in Q4 2024.

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$17.5401/23 08:07 AM EDTEvent Start
$17.83501/24 02:54 PM EDTLatest Updated
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Why Bullish?

The increase in net income and EPS indicates financial growth. This performance may attract investors, similar to positive earnings reports enhancing a stock's value.

How important is it?

Positive earnings reports are significant for stock valuation and investor sentiment. Such metrics often influence stock price movements directly.

Why Short Term?

Investors typically react quickly to earnings improvements. Past examples show immediate stock price increases following strong quarterly results.

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CARE
MARTINSVILLE, VA / ACCESS Newswire / January 23, 2025 / Carter Bankshares, Inc. (the "Company") (NASDAQ:CARE), the holding company of Carter Bank (the "Bank") today announced quarterly net income of $8.3 million, or $0.36 diluted earnings per share ("EPS"), for the fourth quarter of 2024 compared to net income of $5.6 million, or $0.24 diluted EPS, for the third quarter of 2024 and a net loss of $1.9 million, or $(0.08) per share, for the fourth quarter of 2023. Pre-tax pre-provision income1 was $5.6 million for the fourth quarter of 2024, $6.8 million for the third quarter of 2024 and $1.6 million for the fourth quarter of 2023.

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