Yahoo Finance Arrow Financial Full Year 2023 Earnings: Revenues Disappoint
Arrow Financial (NASDAQ:AROW) Full Year 2023 Results
Key Financial Results
Revenue: US$130.6m (down 9.6% from FY 2022).
Net income: US$30.1m (down 38% from FY 2022).
Profit margin: 23% (down from 34% in FY 2022). The decrease in margin was primarily driven by lower revenue.
EPS: US$1.77 (down from US$2.87 in FY 2022).
AROW Banking Performance Indicators
Net interest margin (NIM): 2.67% (down from 3.06% in FY 2022).
Cost-to-income ratio: 69.9% (up from 54.6% in FY 2022).
Non-performing loans: 0.66% (up from 0.40% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Arrow Financial Revenues Disappoint
Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) was mostly in line with analyst estimates.
In the last 12 months, the only revenue segment was Community Banking contributing US$130.6m. The largest operating expense was General & Administrative costs, amounting to US$71.8m (71% of total expenses). Explore how AROW's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 8.7% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 3.5% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Arrow Financial that you should be aware of.
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