Webster Financial Corp. (WBS) announced its fourth-quarter earnings, which, although lower than the previous year, surpassed Wall Street expectations.
The firm reported a net income of $173.60 million, translating to $1.01 per share, compared to $181.23 million, or $1.05 per share, in the same quarter last year.
On an adjusted basis, excluding specific items, Webster Financial Corp. achieved earnings of $181.25 million, or $1.43 per share, for the quarter.
Analysts had, on average, projected earnings of $1.35 per share, as per data from Thomson Reuters, which generally excludes special items from their calculations.
Summary of Webster Financial Corp.'s (GAAP) earnings for Q4:
- Earnings: $173.60 million, compared to $181.23 million in the prior year.
- Earnings Per Share (EPS): $1.01, compared to $1.05 in the prior year.
