Core Viewpoint - First Bancorp reported quarterly earnings of $0.46 per share, exceeding the Zacks Consensus Estimate of $0.41 per share, but down from $0.49 per share a year ago, indicating a 6.12% year-over-year decline in earnings [1] - The company has consistently surpassed consensus EPS estimates over the last four quarters, showcasing strong performance [2] Financial Performance - First Bancorp's revenues for the quarter ended December 2024 were $241.47 million, surpassing the Zacks Consensus Estimate by 2.50% and up from $230.29 million year-over-year, reflecting a revenue growth of 5.12% [2] - The company has exceeded consensus revenue estimates three times in the last four quarters [2] Stock Performance - First Bancorp shares have increased approximately 5.4% since the beginning of the year, outperforming the S&P 500's gain of 3.5% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.42, with projected revenues of $236.48 million, and for the current fiscal year, the EPS estimate is $1.80 on revenues of $984.45 million [7] - The trend of estimate revisions for First Bancorp is favorable, which is a positive indicator for future stock performance [6] Industry Context - The Banks - Southeast industry, to which First Bancorp belongs, is currently ranked in the top 20% of over 250 Zacks industries, suggesting a favorable environment for the company's performance [8]
First Bancorp (FBP) Beats Q4 Earnings and Revenue Estimates