Meridian Full Year 2024 Earnings: Beats Expectations

Meridian (NASDAQ:MRBK) Full Year 2024 Results

Key Financial Results

• Revenue: US$100.9m (up 7.3% from FY 2023).
• Net income: US$16.3m (up 23% from FY 2023).
• Profit margin: 16% (up from 14% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.47 (up from US$1.19 in FY 2023).

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

Meridian Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 9.8%.

The primary driver behind last 12 months revenue was the Bank segment contributing a total revenue of US$66.9m (66% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$64.2m (76% of total expenses). Explore how MRBK's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 3.9% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Meridian's balance sheet health.

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