First Busey Full Year 2024 Earnings: EPS Misses Expectations
Revenue: US$453.7m (up 3.2% from FY 2023).
Net income: US$113.7m (down 7.2% from FY 2023).
Profit margin: 25% (down from 28% in FY 2023). The decrease in margin was driven by higher expenses.
EPS: US$2.01 (down from US$2.21 in FY 2023).
Net interest margin (NIM): 2.95% (up from 2.89% in FY 2023).
Cost-to-income ratio: 61.3% (up from 58.6% in FY 2023).
Non-performing loans: 0.30% (up from 0.10% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.4%.
The primary driver behind last 12 months revenue was the Banking segment contributing a total revenue of US$391.4m (86% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$232.9m (69% of total expenses). Explore how BUSE's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 28% p.a. on average during the next 2 years, compared to a 7.2% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's share price is broadly unchanged from a week ago.
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of First Busey'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.
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