Southern First (SFST) Surpasses Q3 Earnings and Revenue Estimates

Core Viewpoint - Southern First (SFST) reported quarterly earnings of $0.54 per share, exceeding the Zacks Consensus Estimate of $0.38 per share, and showing an increase from $0.51 per share a year ago, indicating a strong performance in the recent quarter [1] Financial Performance - The company achieved revenues of $23.77 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.83% and up from $22.09 million year-over-year [1] - Southern First has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates two times in the same period [1] Stock Performance and Outlook - Southern First shares have declined approximately 3% since the beginning of the year, contrasting with the S&P 500's gain of 22.7% [2] - The company's earnings outlook is mixed, with a current consensus EPS estimate of $0.41 on revenues of $24.25 million for the upcoming quarter and $1.39 on revenues of $91.27 million for the current fiscal year [4] Industry Context - The Banks - Southeast industry, to which Southern First belongs, is currently ranked in the bottom 29% of over 250 Zacks industries, which may impact the stock's performance [5] - Another company in the same industry, First Citizens BancShares (FCNCA), is expected to report a quarterly earnings decline of 14.3% year-over-year, with revenues anticipated to decrease by 9.5% from the previous year [5]