Yahoo Finance Independent Bank Group First Quarter 2024 Earnings: Misses Expectations
Independent Bank Group (NASDAQ:IBTX) First Quarter 2024 Results
Key Financial Results
Revenue: US$119.1m (down 15% from 1Q 2023).
Net income: US$24.1m (up from US$37.4m loss in 1Q 2023).
Profit margin: 20% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses.
EPS: US$0.58 (up from US$0.91 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Independent Bank Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) also missed analyst estimates by 2.0%.
Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 2.1% from a week ago.
Balance Sheet Analysis
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 Independent Bank Group's balance sheet and an in-depth analysis of the company's financial position.
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