First Business Financial Services (NASDAQ: FBIZ) reported its first quarter 2024 financial results, with revenue of US$33.9 million, representing a 1.2% increase from the same period last year. The company’s net income also saw an increase of 1.3% to US$8.63 million, with a profit margin of 25%, in line with the previous year’s figures. Despite this, earnings per share (EPS) fell short of analyst expectations by 6.8%, while revenue missed expectations by 3.5%.
Looking ahead, the company expects to achieve a revenue growth rate of 11% annually over the next two years, outpacing the industry average growth rate for banks in the US of 6%. The American Banks industry has been stable, with First Business Financial Services’ stock price remaining relatively unchanged from the previous week. To gain a more complete understanding of the company’s financial health, it is important to consider its balance sheet as well. You can find our latest analysis on First Business Financial Services’ balance sheet here to get a more comprehensive picture.
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The above article was written based on historical data and analyst forecasts and should not be considered as financial advice.
Please note that this article is based on historical data and analyst forecasts and does not constitute financial advice.
Our goal is to provide long-term focused analysis using unbiased methodology.
Simply Wall St has no positions in any of the mentioned stocks.
