In This Article:
First Western Financial (NASDAQ:MYFW) Third Quarter 2024 Results
Key Financial Results
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Revenue: US$22.0m (down 2.2% from 3Q 2023).
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Net income: US$2.13m (down 32% from 3Q 2023).
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Profit margin: 9.7% (down from 14% in 3Q 2023). The decrease in margin was primarily driven by higher expenses.
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EPS: US$0.22 (down from US$0.33 in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First Western Financial Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) also missed analyst estimates by 21%.
Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 6.7% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 9.6% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 2 warning signs for First Western Financial you should be aware of.
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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.