First Business Financial Services (FBIZ) Surpasses Q3 Earnings Estimates

Core Viewpoint - First Business Financial Services reported quarterly earnings of $1.24 per share, exceeding the Zacks Consensus Estimate of $1.20 per share, and showing an increase from $1.17 per share a year ago, indicating a positive earnings surprise of 3.33% [1] Financial Performance - The company posted revenues of $38.07 million for the quarter ended September 2024, which was below the Zacks Consensus Estimate by 1.88%, but an increase from $37.03 million year-over-year [1] - Over the last four quarters, the company has surpassed consensus EPS estimates three times, while it has only topped consensus revenue estimates once [1] Stock Performance - Since the beginning of the year, First Business Financial Services shares have increased by approximately 10.7%, compared to the S&P 500's gain of 21.5% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.25 on revenues of $39.33 million, and for the current fiscal year, it is $4.70 on revenues of $152.27 million [4] - The estimate revisions trend for the company is mixed, resulting in a Zacks Rank 3 (Hold), suggesting that shares are expected to perform in line with the market in the near future [4] Industry Context - The Banks - Midwest industry, to which First Business Financial Services belongs, is currently ranked in the top 22% of over 250 Zacks industries, indicating a favorable industry outlook [5]