First Business Financial Services (FBIZ) Beats Q2 Earnings and Revenue Estimates

Core Viewpoint - First Business Financial Services (FBIZ) reported quarterly earnings of $1.23 per share, exceeding the Zacks Consensus Estimate of $1.09 per share, and showing an increase from $0.98 per share a year ago [1] Financial Performance - The company achieved revenues of $37.97 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.35%, compared to $35.12 million in the same quarter last year [6] - This quarterly report represents an earnings surprise of 12.84%, while the previous quarter had an earnings surprise of -7.96% [5] Earnings Estimates and Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.16 on revenues of $38.07 million, and for the current fiscal year, it is $4.52 on revenues of $150.03 million [9] - The trend of estimate revisions for First Business Financial Services is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [13] Market Performance - First Business Financial Services shares have increased approximately 6% since the beginning of the year, while the S&P 500 has gained 13.8% [7] - The company has surpassed consensus EPS estimates two times over the last four quarters [2] and has topped consensus revenue estimates twice in the same period [6] Industry Context - First Business Financial Services operates within the Zacks Banks - Midwest industry, which is currently ranked in the top 42% of over 250 Zacks industries [14]