First Interstate BancSystem Third Quarter 2024 Earnings: EPS Misses Expectations

First Interstate BancSystem (NASDAQ:FIBK) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$232.1m (down 9.3% from 3Q 2023).
• Net income: US$55.5m (down 24% from 3Q 2023).
• Profit margin: 24% (down from 28% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.54 (down from US$0.70 in 3Q 2023).

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

First Interstate BancSystem EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.1%.

Looking ahead, revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

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

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on First Interstate BancSystem's balance sheet health.

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