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- NasdaqGS:MYFW
First Western Financial Second Quarter 2024 Earnings: Misses Expectations
First Western Financial (NASDAQ:MYFW) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$20.4m (flat on 2Q 2023).
- Net income: US$1.08m (down 29% from 2Q 2023).
- Profit margin: 5.3% (down from 7.3% in 2Q 2023).
- EPS: US$0.11 (down from US$0.16 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First Western Financial Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates by 64%.
Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 11% from a week ago.
Risk Analysis
Be aware that First Western Financial is showing 1 warning sign in our investment analysis that you should know about...
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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.
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About NasdaqGS:MYFW
First Western Financial
A financial holding company, provides wealth advisory, private baking, personal trust, investment management, mortgage lending, and institutional asset management services.
Flawless balance sheet with reasonable growth potential.