Horizon Bancorp Full Year 2024 Earnings: Misses Expectations
Net income: US$35.4m (up 27% from FY 2023).
Profit margin: 19% (up from 15% in FY 2023). The increase in margin was primarily driven by lower expenses.
EPS: US$0.81 (up from US$0.64 in FY 2023).
Net interest margin (NIM): 2.68% (up from 2.54% in FY 2023).
Non-performing loans: 0.56% (up from 0.46% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Revenue missed analyst estimates by 18%. Earnings per share (EPS) also missed analyst estimates by 4.1%.
In the last 12 months, the only revenue segment was Commercial Banking contributing US$186.2m. The largest operating expense was General & Administrative costs, amounting to US$129.8m (86% of total expenses). Explore how HBNC's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 2.0% from a week ago.
Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Horizon Bancorp that you should be aware of.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.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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