Alerus Financial First Quarter 2024 Earnings: In Line With Expectations

Alerus Financial (NASDAQ:ALRS) First Quarter 2024 Results

Key Financial Results

• Revenue: US$47.5m (down 1.7% from 1Q 2023).
• Net income: US$6.43m (down 21% from 1Q 2023).
• Profit margin: 14% (down from 17% in 1Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$0.33 (down from US$0.41 in 1Q 2023).

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

Alerus Financial Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's shares are up 3.2% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Alerus Financial you should know about.

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