First Bank First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

First Bank (NASDAQ:FRBA) First Quarter 2024 Results

Key Financial Results

• Revenue: US$33.0m (up 46% from 1Q 2023).
• Net income: US$12.5m (up 79% from 1Q 2023).
• Profit margin: 38% (up from 31% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.50 (up from US$0.36 in 1Q 2023).

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

First Bank EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) exceeded analyst estimates by 19%.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 1.4% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 4 warning signs for First Bank that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.