Washington Federal posts 1Q profit, results miss Wall Street estimates

MarketsAssociated Press

SEATTLE (AP) — Washington Federal Inc. (WAFD) on Wednesday, Jan. 14 reported fiscal first-quarter profit of $38.4 million.

The Seattle-based company said it had net income of 39 cents per share.

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The results fell short of Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The holding company for Washington Federal Savings Bank posted revenue of $107.6 million in the period, also missing Street forecasts. Analysts expected $114.6 million, according to Zacks.

Washington Federal shares have fallen roughly 6 percent since the beginning of the year. The stock has dropped slightly more than 2 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WAFD at http://www.zacks.com/ap/WAFD

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