FB Financial Third Quarter 2024 Earnings: Misses Expectations

In This Article:

FB Financial (NYSE:FBK) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$87.6m (down 18% from 3Q 2023).

  • Net income: US$10.2m (down 47% from 3Q 2023).

  • Profit margin: 12% (down from 18% in 3Q 2023). The decrease in margin was driven by lower revenue.

  • EPS: US$0.22 (down from US$0.41 in 3Q 2023).

earnings-and-revenue-growth
NYSE:FBK Earnings and Revenue Growth November 6th 2024

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

FB Financial Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 73%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 2.3% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of FB Financial's balance sheet and an in-depth analysis of the company's financial position.

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

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

Waiting for permission
Allow microphone access to enable voice search

Try again.