First Western (MYFW) Q3 Earnings and Revenues Lag Estimates

Company Performance - First Western (MYFW) reported quarterly earnings of $0.22 per share, missing the Zacks Consensus Estimate of $0.30 per share, and down from $0.32 per share a year ago, representing an earnings surprise of -26.67% [1] - The company posted revenues of $22.54 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 6.47%, compared to $22.87 million in the same quarter last year [1] - Over the last four quarters, First Western has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [1] Stock Performance - First Western shares have increased by approximately 6.1% since the beginning of the year, while the S&P 500 has gained 21.5% [2] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.33 on revenues of $24.9 million, and for the current fiscal year, it is $1 on revenues of $95.6 million [4] - The estimate revisions trend for First Western is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [4] Industry Context - The Banks - Midwest industry, to which First Western belongs, is currently in the top 22% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [5] - Empirical research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [5]