In This Article:
First Western Financial (NASDAQ:MYFW) Full Year 2024 Results
Key Financial Results
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Revenue: US$90.1m (up 8.9% from FY 2023).
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Net income: US$8.47m (up 62% from FY 2023).
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Profit margin: 9.4% (up from 6.3% in FY 2023). The increase in margin was driven by higher revenue.
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EPS: US$0.88 (up from US$0.55 in FY 2023).
MYFW Banking Performance Indicators
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Net interest margin (NIM): 2.37% (down from 2.62% in FY 2023).
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Non-performing loans: 0.53% (down from 2.01% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First Western Financial Revenues Disappoint
Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) was mostly in line with analyst estimates.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 4.1% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on First Western Financial's balance sheet.
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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.