Investing in technology is critical as we aim to meet the growing needs of our customers in the digital age.
— CEO
03Detailed Report
IBOC
International Bancshares Corporation
Period
Q2 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 11, 2026
Swipe to view all report sections
Executive Summary
In Q2 2024, International Bancshares Corporation (IBOC) reported a commendable revenue of $259.2 million, reflecting a 26.96% increase year-over-year and a 1.91% rise quarter-over-quarter. Despite these positive top-line figures, net income slightly decreased by 3.49% from the previous year, amounting to $96.98 million, attributed to rising expenses and significant interest costs, totaling $51.44 million. Management emphasized their focus on enhancing operational efficiency to navigate the current economic headwinds while maintaining a robust capital position.
The earnings call highlighted a steady interest in consumer products and international banking services, which have contributed to revenue diversification. However, the management also alerted shareholders to possible interest rate hikes impacting future earnings, emphasizing vigilance in managing the evolving economic landscape.
Key Performance Indicators
Revenue
Increasing
259.19M
QoQ: 1.91% | YoY: 26.96%
Gross Profit
Increasing
259.19M
1.00% margin
QoQ: 1.91% | YoY: 2 138.27%
Operating Income
Decreasing
126.87M
QoQ: 30.34% | YoY: -0.74%
Net Income
Decreasing
96.98M
QoQ: -0.36% | YoY: -3.49%
EPS
Decreasing
1.56
QoQ: -0.64% | YoY: -3.70%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $259.19 million (YoY +26.96%, QoQ +1.91%)
Net Income: $96.98 million (YoY -3.49%, QoQ -0.36%)
EPS: $1.56 (YoY -3.70%, QoQ -0.64%)
Operating Income: $126.87 million (YoY -0.74%, QoQ +30.34%)
Liquidity Ratios: Current Ratio 0.158, Quick Ratio 0.316
Debt Ratios: Total Debt/Total Capitalization 22.1%, Debt/Equity Ratio 0.284
Management marked a healthy balance sheet during Q2 with cash and short-term investments at $5.665 billion alongside total assets of $15.491 billion, despite a strategic reduction in cash reserves to $792.17 million before accounting for investments and cash flow adjustments.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
259.19M
26.96%
1.91%
Gross Profit
259.19M
2 138.27%
1.91%
Operating Income
126.87M
-0.74%
30.34%
Net Income
96.98M
-3.49%
-0.36%
EPS
1.56
-3.70%
-0.64%
Key Financial Ratios
Gross Profit Margin
Weak
1.00%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Excellent
48.90%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
37.40%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Weak
0.63%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
3.76%
Return on equity suggests inefficient capital allocation
Current Ratio
Concern
0.16
Current ratio below safe levels, potential liquidity risk
Debt to Equity
Conservative
0.28
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Value
9.26x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Fair Value
1.39x
Price-to-book ratio reasonable for profitable companies
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.