First Business Financial Services (NASDAQ: FBIZ) released its Q1 2024 financial results, showing a revenue of US$33.9 million, a 1.2% increase from the previous quarter. The net income for the quarter was US$8.63 million, up 1.3% from the same period last year, while the profit margin remained steady at 25%. Earnings per share (EPS) also saw a slight increase to US$1.06 from US$1.05 in Q1 2023.
Despite positive results, both revenue and EPS missed analyst estimates by 3.5% and 6.8%, respectively. However, looking ahead, First Business Financial Services is forecasting an average annual revenue growth of 11% for the next two years, outpacing the Banks industry’s growth forecast of 6% in the US. The share price of the company has remained stable over the past week.
Investors interested in gaining more insights into First Business Financial Services’ financial health can check out our latest analysis on their balance sheet by clicking on this link [insert link]. Feedback and inquiries can be directed to our editorial team at Simply Wall St via email at [editorial-team@simplywallst.com](mailto:editorial-team@simplywallst.com).
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To summarize First Business Financial Services reported Q1 2024 results with revenue of $33.9M which is up by 1.2% compared to Q1 of last year but missed analyst estimates by about 3%. The company is projecting an average annual revenue growth rate of about 11% for next two years which is higher than industry average growth rate of Banks sector in USA by about 6%. The share price has remained stable over past week but investors can find more information about balance sheet in our latest analysis
