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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