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First Foundation (FFWM) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, First Foundation (FFWM - Free Report) reported revenue of $51.07 million, down 27.5% over the same period last year. EPS came in at $0.02, compared to $0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $58.93 million, representing a surprise of -13.34%. The company delivered an EPS surprise of +100.00%, with the consensus EPS estimate being $0.01.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how First Foundation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio (non-GAAP): 98.4% versus the three-analyst average estimate of 98%.
Net Interest Margin: 1.2% versus the three-analyst average estimate of 1.5%.
Average Balances - Total interest-earnings assets: $13 billion compared to the $12.88 billion average estimate based on three analysts.
Net charge-offs (recoveries) to average loans - annualized: 0% versus 0% estimated by three analysts on average.
Total nonperforming assets: $24.02 million compared to the $22.45 million average estimate based on two analysts.
Net interest income: $38.39 million compared to the $46.71 million average estimate based on three analysts.
Total Noninterest income: $12.68 million versus the three-analyst average estimate of $12.21 million.
Asset management, consulting and other fees: $8.61 million versus $9.46 million estimated by two analysts on average.
Other income: $2.07 million compared to the $2.96 million average estimate based on two analysts.
Shares of First Foundation have returned -5.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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First Foundation (FFWM) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, First Foundation (FFWM - Free Report) reported revenue of $51.07 million, down 27.5% over the same period last year. EPS came in at $0.02, compared to $0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $58.93 million, representing a surprise of -13.34%. The company delivered an EPS surprise of +100.00%, with the consensus EPS estimate being $0.01.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how First Foundation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio (non-GAAP): 98.4% versus the three-analyst average estimate of 98%.
- Net Interest Margin: 1.2% versus the three-analyst average estimate of 1.5%.
- Average Balances - Total interest-earnings assets: $13 billion compared to the $12.88 billion average estimate based on three analysts.
- Net charge-offs (recoveries) to average loans - annualized: 0% versus 0% estimated by three analysts on average.
- Total nonperforming assets: $24.02 million compared to the $22.45 million average estimate based on two analysts.
- Net interest income: $38.39 million compared to the $46.71 million average estimate based on three analysts.
- Total Noninterest income: $12.68 million versus the three-analyst average estimate of $12.21 million.
- Asset management, consulting and other fees: $8.61 million versus $9.46 million estimated by two analysts on average.
- Other income: $2.07 million compared to the $2.96 million average estimate based on two analysts.
View all Key Company Metrics for First Foundation here>>>Shares of First Foundation have returned -5.1% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.