First Community Full Year 2022 Earnings: EPS Beats Expectations, Revenues Lag
First Community (NASDAQ:FCCO) Full Year 2022 Results
Key Financial Results
Revenue: US$59.7m (up 1.7% from FY 2021).
Net income: US$14.6m (down 5.5% from FY 2021).
Profit margin: 25% (down from 26% in FY 2021). The decrease in margin was driven by higher expenses.
EPS: US$1.94 (down from US$2.06 in FY 2021).
FCCO Banking Performance Indicators
Net interest margin (NIM): 3.14% (down from 3.23% in FY 2021).
Cost-to-income ratio: 68.6% (up from 66.1% in FY 2021).
Non-performing loans: 0.50% (up from 0.03% in FY 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First Community EPS Beats Expectations, Revenues Fall Short
Revenue missed analyst estimates by 16%. Earnings per share (EPS) exceeded analyst estimates by 1.2%.
Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 5.4% 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. See our latest analysis on First Community's balance sheet health.
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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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