Westamerica (WABC) Surpasses Q1 Earnings and Revenue Estimates

Core Insights - Westamerica (WABC) reported quarterly earnings of $1.16 per share, exceeding the Zacks Consensus Estimate of $1.09 per share, but down from $1.37 per share a year ago, indicating a 15.3% year-over-year decline [1] - The company achieved revenues of $66.42 million for the quarter, surpassing the Zacks Consensus Estimate by 0.28%, but down from $75.84 million year-over-year, reflecting a 12.5% decrease [2] - Westamerica's stock has underperformed, losing approximately 13.1% since the beginning of the year compared to the S&P 500's decline of 10.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.09, with expected revenues of $65.94 million, while for the current fiscal year, the EPS estimate is $4.35 on revenues of $263.81 million [7] - The estimate revisions trend for Westamerica is mixed, resulting in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Banks - West industry, to which Westamerica belongs, is currently ranked in the bottom 40% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Another company in the same industry, FS Bancorp (FSBW), is expected to report quarterly earnings of $0.93 per share, reflecting a year-over-year decline of 12.3% [9]