Farmers National Banc (FMNB) Matches Q2 Earnings Estimates

Company Performance - Farmers National Banc (FMNB) reported quarterly earnings of $0.33 per share, matching the Zacks Consensus Estimate, but down from $0.41 per share a year ago [1] - The company posted revenues of $41.67 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 1.13%, and down from $44.03 million year-over-year [2] - Over the last four quarters, Farmers National has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] Market Comparison - Farmers National shares have increased approximately 2.6% since the beginning of the year, while the S&P 500 has gained 16.5% [3] - The current consensus EPS estimate for the upcoming quarter is $0.32 on revenues of $42.15 million, and for the current fiscal year, it is $1.32 on revenues of $169.25 million [7] Industry Outlook - The Zacks Industry Rank for Banks - Midwest is currently in the top 42% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5][6]