Fulton Financial Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Fulton Financial (NASDAQ:FULT) Full Year 2024 Results

Key Financial Results

• Revenue: US$1.15b (up 12% from FY 2023).
• Net income: US$278.5m (up 1.6% from FY 2023).
• Profit margin: 24% (down from 27% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: US$1.59.

FULT Banking Performance Indicators

• Net interest margin (NIM): 3.42% (no change from 3.42% in FY 2023).
• Cost-to-income ratio: 60.8% (up from 60.5% in FY 2023).
• Non-performing loans: 0.92% (up from 0.72% in FY 2023).

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

Fulton Financial Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.4%.

In the last 12 months, the only revenue segment was Banking contributing US$1.15b. The largest operating expense was General & Administrative costs, amounting to US$669.4m (77% of total expenses). Explore how FULT's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 7.2% 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 it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Fulton Financial's balance sheet health.

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