Plumas Bancorp First Quarter 2024 Earnings: Misses Expectations

Plumas Bancorp (NASDAQ:PLBC) First Quarter 2024 Results

Key Financial Results

• Revenue: US$18.8m (down 4.0% from 1Q 2023).
• Net income: US$6.25m (down 18% from 1Q 2023).
• Profit margin: 33% (down from 39% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$1.06 (down from US$1.30 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Plumas Bancorp Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 5.8% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Plumas Bancorp that you need to be mindful of.

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