Farmers National Banc First Quarter 2024 Earnings: Misses Expectations
Farmers National Banc (NASDAQ:FMNB) First Quarter 2024 Results
Key Financial Results
Revenue: US$40.5m (up 5.4% from 1Q 2023).
Net income: US$11.2m (up 59% from 1Q 2023).
Profit margin: 28% (up from 18% in 1Q 2023). The increase in margin was primarily driven by lower expenses.
EPS: US$0.30 (up from US$0.19 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Farmers National Banc Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 3.9%. Earnings per share (EPS) also missed analyst estimates by 8.4%.
Looking ahead, revenue is forecast to grow 1.2% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 4.3% from a week ago.
Risk Analysis
Be aware that Farmers National Banc is showing 1 warning sign in our investment analysis that you should know about...
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