Home BancShares (HOMB) Misses Q3 Earnings Estimates

Core Insights - Home BancShares reported quarterly earnings of $0.50 per share, missing the Zacks Consensus Estimate of $0.53 per share, but showing an increase from $0.47 per share a year ago, resulting in an earnings surprise of -5.66% [1] - The company posted revenues of $258 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.75% and increasing from $245.35 million year-over-year [2] - Home BancShares has surpassed consensus EPS estimates three times over the last four quarters and has topped consensus revenue estimates four times in the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.53 on revenues of $256.43 million, while for the current fiscal year, the estimate is $2.07 on revenues of $1.01 billion [7] - The estimate revisions trend for Home BancShares is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Banks - Southeast industry, to which Home BancShares belongs, is currently in the bottom 34% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Home BancShares' stock performance [5]