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First Business Financial Services Q2 2024 Earnings: Beat Expectations

Published

10 months ago

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First Business Financial Services (NASDAQ:FBIZ) Second Quarter 2024 Results

Main financial results

  • Revenue: $36.3 million (up 10% from Q2 2023).

  • Net income: $10.0 million (up 27% from Q2 2023).

  • Profit margin: 28% (up from 24% in Q2 2023). The margin increase was driven by higher revenue.

  • EPS: $1.23 (up from $0.98 in Q2 2023).

earnings-and-revenue-growth

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

First Business Financial Services revenues and profits exceed expectations

Revenue beat analysts’ estimates by 2.3%. Earnings per share (EPS) also beat analysts’ estimates by 13%.

Looking ahead, revenue is forecast to grow by an average of 11% per year over the next 2 years, compared to a 6.4% growth forecast for the US banking sector.

Performance of the American banking sector.

The company’s shares are up 11% from last week.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We did some analysis and you can see our opinion on First Business Financial Services’ balance sheet.

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This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only 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 into account your objectives or financial situation. Our aim is to bring you long-term focused analysis, driven by fundamental data. Please note that our analysis may not take into account the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch directly with us. Alternatively, send an email editorial-team@simplywallst.com

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