Heritage Financial First Quarter 2024 Earnings: EPS: US$0.17 (vs US$0.58 in 1Q 2023)

In This Article:

Heritage Financial (NASDAQ:HFWA) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$47.2m (down 29% from 1Q 2023).

  • Net income: US$5.75m (down 72% from 1Q 2023).

  • Profit margin: 12% (down from 31% in 1Q 2023). The decrease in margin was driven by lower revenue.

  • EPS: US$0.17 (down from US$0.58 in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Heritage Financial Earnings Insights

Looking ahead, revenue is forecast to grow 8.6% p.a. on average during the next 2 years, compared to a 6.0% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 3.1% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Heritage Financial that you should be aware of.

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