First Business Financial Services (NASDAQ: FBIZ) released its Q1 2024 financial results, showing a revenue of $33.9 million, up by 1.2% from the same period in 2023. The company’s net income for the quarter was $8.63 million, an increase of 1.3% from the previous year. Despite this positive news, both revenue and earnings per share (EPS) missed analyst estimates by 3.5% and 6.8%, respectively. Looking ahead, the company is forecasting a growth rate of 11% on average per year over the next two years, which outpaces the industry-wide growth forecast for banks in the US at 6%. Despite these predictions, the stock price has remained stable over the past week.
To get a complete picture of First Business Financial Services’ financial health, it is essential to analyze its balance sheet further. Our latest analysis provides more information on this topic.
At Simply Wall St, we provide unbiased analysis based on historical data and analyst forecasts to offer a long-term perspective on companies’ financial health. This report should not be considered as financial advice and does not recommend buying or selling any stock without considering your own objectives and financial situation.
Investors interested in learning more about First Business Financial Services can find more information about its balance sheet in our latest analysis or contact us directly at editorial-team@simplywallst.com for feedback and inquiries.
It’s important to note that while earnings are essential to evaluate a company’s financial health, it’s also necessary to consider other factors such as market trends and competitive landscape when making investment decisions.
Overall, while First Business Financial Services reported solid Q1 results with steady profit margins and EPS growth, it missed analyst estimates for revenue and EPS slightly but is still forecasting above-average growth rates compared to the industry average over the next two years.
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