FB Financial (FBK) Tops Q3 Earnings Estimates

Core Viewpoint - FB Financial (FBK) reported quarterly earnings of $0.86 per share, exceeding the Zacks Consensus Estimate of $0.82 per share, and showing an increase from $0.71 per share a year ago, representing an earnings surprise of 4.88% [1] Financial Performance - The company posted revenues of $89.52 million for the quarter ended September 2024, which missed the Zacks Consensus Estimate by 29.75% and decreased from $108.97 million year-over-year [2] - Over the last four quarters, FB Financial has surpassed consensus EPS estimates four times but has only topped consensus revenue estimates once [2] Stock Performance - FB Financial shares have increased by approximately 19.8% since the beginning of the year, compared to the S&P 500's gain of 22.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.77 on revenues of $126.41 million, and for the current fiscal year, it is $3.25 on revenues of $489.39 million [7] - The trend of estimate revisions for FB Financial is mixed, which could change following the recent earnings report [6] Industry Context - The Banks - Northeast industry, to which FB Financial belongs, is currently in the top 41% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, Midland States Bancorp (MSBI), is expected to report quarterly earnings of $0.63 per share, reflecting a year-over-year decline of 19.2% [9]