Shore Bancshares First Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Simply Wall St · 05/13 10:18

Shore Bancshares (NASDAQ:SHBI) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$47.3m (up 59% from 1Q 2023).
  • Net income: US$8.18m (up 27% from 1Q 2023).
  • Profit margin: 17% (down from 22% in 1Q 2023).
  • EPS: US$0.25.
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NasdaqGS:SHBI Earnings and Revenue Growth May 13th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Shore Bancshares Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 5.1%. Earnings per share (EPS) missed analyst estimates by 23%.

Looking ahead, revenue is forecast to grow 21% 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 share price is broadly unchanged from a week ago.

Risk Analysis

Before we wrap up, we've discovered 4 warning signs for Shore Bancshares (1 is potentially serious!) that you should be aware of.