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First Bank Full Year 2022 Earnings: Misses Expectations

First Bank (NASDAQ:FRBA) Full Year 2022 Results

Key Financial Results

  • Revenue: US$94.6m (up 5.3% from FY 2021).

  • Net income: US$36.3m (up 2.4% from FY 2021).

  • Profit margin: 38% (down from 39% in FY 2021). The decrease in margin was driven by higher expenses.

  • EPS: US$1.86 (up from US$1.81 in FY 2021).

FRBA Banking Performance Indicators

  • Non-performing loans: 0.27% (down from 0.61% in FY 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

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

First Bank Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 3.7%.

Looking ahead, revenue is forecast to grow 24% p.a. on average during the next 2 years, compared to a 6.5% 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.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with First Bank, and understanding it should be part of your investment process.

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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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