Alerus Financial Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Alerus Financial (NASDAQ:ALRS) Full Year 2023 Results
Key Financial Results
Revenue: US$166.0m (down 21% from FY 2022).
Net income: US$11.7m (down 71% from FY 2022).
Profit margin: 7.0% (down from 19% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: US$0.59 (down from US$2.12 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Alerus Financial Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) missed analyst estimates by 48%.
Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 4.9% growth forecast for the Diversified Financial industry in the US.
Performance of the American Diversified Financial industry.
The company's shares are up 10% from a week ago.
Valuation
If you are concerned about investing in overvalued stocks, our analysis of 6 valuation measures indicates Alerus Financial could be one stock to be wary of. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.
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