Alerus Financial Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Alerus Financial (NASDAQ:ALRS) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$46.9m (down 2.4% from 2Q 2023).
• Net income: US$6.17m (down 32% from 2Q 2023).
• Profit margin: 13% (down from 19% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$0.31 (down from US$0.45 in 2Q 2023).

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

Alerus Financial Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 5.2%. Earnings per share (EPS) missed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Diversified Financial industry in the US.

Performance of the American Diversified Financial industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 2 warning signs with Alerus Financial, and understanding these should be part of your investment process.

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