1st Source Third Quarter 2024 Earnings: EPS Beats Expectations

1st Source (NASDAQ:SRCE) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$94.8m (up 2.1% from 3Q 2023).
• Net income: US$34.6m (up 6.2% from 3Q 2023).
• Profit margin: 37% (up from 35% in 3Q 2023).
• EPS: US$1.41 (up from US$1.32 in 3Q 2023).

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

1st Source EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.5%.

Looking ahead, revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 7.1% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for 1st Source 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.