Finward Bancorp Third Quarter 2024 Earnings: Misses Expectations

Finward Bancorp (NASDAQ:FNWD) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$14.9m (down 2.7% from 3Q 2023).
• Net income: US$606.0k (down 72% from 3Q 2023).
• Profit margin: 4.1% (down from 14% in 3Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$0.14 (down from US$0.52 in 3Q 2023).

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

Finward Bancorp Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 2.6% 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 share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Finward Bancorp (1 is a bit unpleasant!) that you should be aware of.

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