Yahoo Finance Alerus Financial Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Alerus Financial (NASDAQ:ALRS) Full Year 2023 Results
Key Financial Results
Revenue: US$166.0m (down 21% from FY 2022).
Net income: US$11.7m (down 70% from FY 2022).
Profit margin: 7.0% (down from 19% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: US$0.59 (down from US$2.12 in FY 2022).
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 6.1%. Earnings per share (EPS) missed analyst estimates by 48%.
The primary driver behind last 12 months revenue was the Banking segment contributing a total revenue of US$72.2m (43% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$114.5m (74% of total expenses). Explore how ALRS's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 4.1% growth forecast for the Diversified Financial industry in the US.
Performance of the American Diversified Financial industry.
The company's shares are up 1.9% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for Alerus Financial that we have uncovered.
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