Old National Bancorp (NASDAQ:ONB) announced its third quarter earnings results on Monday 19th October 2020 before market open.
Old National Bancorp announced quarterly income of $ 0.47 per share, from the adjusted revenue of $ 208.80 million. On adjusted basis, the firm reported income for the quarter of $ 0.46 per share.
The consensus estimate are $ 0.33 income per share from revenues of $ 201.89 million.
The third quarter financial report outlined, earnings beat street analysts by $ 0.13 or 39.39 percent, where as adjusted revenues outshined analysts estimates by $ 6.91 million or 3.42 percent.
On the other hand, The quarterly earnings surged 14.63 percent compared with the same quarter last year, at the same time revenues declined 0.48 percent versus third quarter of last year.
Jim Ryan, Chairman and CEO, Our excellent 3rd quarter results are not only a testament to our ONB Way strategy and the overall strength of our organization, they are an indicator of the strength and resiliency of the clients and communities we serve. More specifically, our quarterly success was driven by very strong commercial production throughout the franchise and outstanding credit metrics that actually resulted in net recoveries.
