First Bancshares Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

First Bancshares (NYSE:FBMS) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$69.5m (down 10.0% from 2Q 2023).
• Net income: US$19.7m (down 17% from 2Q 2023).
• Profit margin: 28% (down from 31% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.63 (down from US$0.76 in 2Q 2023).

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

First Bancshares EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) exceeded analyst estimates by 7.8%.

Looking ahead, revenue is expected to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Banks industry in the US are expected to grow by 6.4%.

Performance of the American Banks industry.

The company's shares are up 4.0% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on First Bancshares' balance sheet.

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