First Mid Bancshares Third Quarter 2024 Earnings: Misses Expectations

First Mid Bancshares (NASDAQ:FMBH) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$79.3m (up 17% from 3Q 2023).
• Net income: US$19.5m (up 29% from 3Q 2023).
• Profit margin: 25% (up from 22% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.81 (up from US$0.68 in 3Q 2023).

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

First Mid Bancshares Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 3.6%.

Looking ahead, revenue is expected to decline by 7.0% p.a. on average during the next 3 years, while revenues in the Banks industry in the US are expected to grow by 6.5%.

Performance of the American Banks industry.

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

Risk Analysis

You still need to take note of risks, for example - First Mid Bancshares has 1 warning sign we think you should be aware of.

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