First Citizens BancShares Full Year 2024 Earnings: EPS Beats Expectations

First Citizens BancShares (NASDAQ:FCNC.A) Full Year 2024 Results

Key Financial Results

• Revenue: US$9.33b (up 23% from FY 2023).
• Net income: US$2.72b (down 76% from FY 2023).
• Profit margin: 29%.
• EPS: US$189 (down from US$785 in FY 2023).

FCNC.A Banking Performance Indicators

• Net interest margin (NIM): 3.54% (down from 3.92% in FY 2023).
• Non-performing loans: 0.84% (up from 0.73% in FY 2023).

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

First Citizens BancShares EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.4%.

Looking ahead, revenue is expected to decline by 1.2% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 7.3%.

Performance of the American Banks industry.

The company's shares are up 1.6% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for First Citizens BancShares (1 makes us a bit uncomfortable!) that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.