For the quarter ended June 2024, First Foundation reported revenue of $57.49 million, down 5.9% over the same period last year. EPS came in at $0.06, compared to $0.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $54.23 million, representing a surprise of +6.00%. The company delivered an EPS surprise of +500.00%, with the consensus EPS estimate being $0.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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): 96.1% compared to the 96.8% average estimate based on three analysts.
- Average Balances - Total interest-earnings assets: $12.85 billion compared to the $12.87 billion average estimate based on three analysts.
- Net charge-offs (recoveries) to average loans - annualized: 0% versus the three-analyst average estimate of 0%.
- Net Interest Margin: 1.4% versus the three-analyst average estimate of 1.3%.
- Total nonperforming assets: $25.13 million compared to the $25.70 million average estimate based on two analysts.
- Net interest income: $43.83 million versus the three-analyst average estimate of $41.99 million.
- Total Noninterest income: $13.66 million compared to the $12.49 million average estimate based on three analysts.
- Asset management, consulting and other fees: $9.18 million versus $9.99 million estimated by two analysts on average.
- Other income: $2.24 million compared to the $2.56 million average estimate based on two analysts.
View all Key Company Metrics for First Foundation here>>>Shares of First Foundation have returned +20% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, First Foundation (FFWM) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, First Foundation reported revenue of $57.49 million, down 5.9% over the same period last year. EPS came in at $0.06, compared to $0.07 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $54.23 million, representing a surprise of +6.00%. The company delivered an EPS surprise of +500.00%, with the consensus EPS estimate being $0.01.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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): 96.1% compared to the 96.8% average estimate based on three analysts.
- Average Balances - Total interest-earnings assets: $12.85 billion compared to the $12.87 billion average estimate based on three analysts.
- Net charge-offs (recoveries) to average loans - annualized: 0% versus the three-analyst average estimate of 0%.
- Net Interest Margin: 1.4% versus the three-analyst average estimate of 1.3%.
- Total nonperforming assets: $25.13 million compared to the $25.70 million average estimate based on two analysts.
- Net interest income: $43.83 million versus the three-analyst average estimate of $41.99 million.
- Total Noninterest income: $13.66 million compared to the $12.49 million average estimate based on three analysts.
- Asset management, consulting and other fees: $9.18 million versus $9.99 million estimated by two analysts on average.
- Other income: $2.24 million compared to the $2.56 million average estimate based on two analysts.
View all Key Company Metrics for First Foundation here>>>Shares of First Foundation have returned +20% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.