Enterprise Financial Services First Quarter 2024 Earnings: Misses Expectations

Enterprise Financial Services (NASDAQ:EFSC) First Quarter 2024 Results

Key Financial Results

• Revenue: US$146.3m (down 2.7% from 1Q 2023).
• Net income: US$39.5m (down 28% from 1Q 2023).
• Profit margin: 27% (down from 36% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$1.05 (down from US$1.47 in 1Q 2023).

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

Enterprise Financial Services Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) also missed analyst estimates by 5.7%.

Looking ahead, revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 3.3% from a week ago.

Valuation

Our analysis of Enterprise Financial Services based on 6 different valuation metrics shows it might be undervalued. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.

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