Horizon Bancorp (HBNC) Q3 Earnings and Revenues Top Estimates

Company Performance - Horizon Bancorp reported quarterly earnings of $0.41 per share, exceeding the Zacks Consensus Estimate of$ 0.37 per share, and up from $0.37 per share a year ago, representing an earnings surprise of 10.81% [1] - The company posted revenues of$ 58.42 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.32%, and an increase from $53.92 million year-over-year [1] - Horizon Bancorp has surpassed consensus EPS estimates in all four of the last quarters and has topped consensus revenue estimates two times over the last four quarters [1] Market Outlook - Horizon Bancorp shares have increased by approximately 5.8% since the beginning of the year, while the S&P 500 has gained 22.7% [2] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [3] - The current consensus EPS estimate for the upcoming quarter is$ 0.37 on revenues of $58.73 million, and for the current fiscal year, it is$ 1.38 on revenues of $226.3 million [4] Industry Context - The Banks - Northeast industry, to which Horizon Bancorp belongs, is currently ranked in the top 20% of over 250 Zacks industries, indicating a favorable outlook for the sector [5] - Another company in the same industry, First Mid Bancshares, is expected to report quarterly earnings of$ 0.84 per share, reflecting a year-over-year increase of 9.1%, with revenues projected at $79.5 million, up 8.2% from the previous year [5]