First Business Financial Services Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

First Business Financial Services (NASDAQ:FBIZ) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$36.0m (up 2.2% from 3Q 2023).
• Net income: US$10.3m (up 8.7% from 3Q 2023).
• Profit margin: 29% (up from 27% in 3Q 2023).
• EPS: US$1.27 (up from US$1.17 in 3Q 2023).

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

First Business Financial Services EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 3.9%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 4.6% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for First Business Financial Services that you should be aware of.

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