First Business Financial Services (NASDAQ:FBIZ) First Quarter 2024 Results
Key Financial Results
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Revenue: US$33.9m (up 1.2% from 1Q 2023).
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Net income: US$8.63m (up 1.3% from 1Q 2023).
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Profit margin: 25% (in line with 1Q 2023).
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EPS: US$1.06 (up from US$1.05 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First Business Financial Services Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 6.8%.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company’s share price is broadly unchanged from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. See our latest analysis on First Business Financial Services’ balance sheet health.
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