Sector • Financial Industry • Commercial Banks |
Industry • Commercial Banks |
Sector • Financial |
First Bancorp's Financial Stability at Risk as Earnings per Share Plummet by 18% in Fiscal Period
Declining Revenue per Employee and Lagging Behind Peers Pose Threat to First Bancorp*s Competitiveness and Market Share
Published May 11 2023 / Modified May 11 2023
CSIMarket Team / CSIMarket.com
According to recent reports, the company's revenue per employee has fallen on a trailing twelve-month basis to $114,153, which is lower than the company's average number of $80,479.
This indicates that the company is failing to generate sufficient revenue from its workforce.
With a total of 783 employees, First Bancorp Inc has lagged behind its peers within the Financial sector, where employees of 567 other companies have achieved higher revenue per employee.
This limits the company's competitive edge and, in the long run, could cost them valuable market share.
Moreover, the company's overall ranking has deteriorated compared to the fourth quarter of 2022, from 1292 to 2637.
This signifies that the company is facing significant obstacles in terms of growth and performance.
The fiscal period ending March 31, 2023, was also hard on First Bancorp Inc, with the company's income falling by -18.18% of $0.72 per share, compared to $0.88 a year ago.
Profits also fell by -13.25% from $0.83 per share from the prior reporting season.
The revenue decreased by -8.517% to $20.49 million from $22.40 million in the similar reporting season a year ago.
Sequentially, revenue deteriorated by -10.432% from $22.88 million.
Net profits of $7.971 million in the fiscal period ending March 31, 2023, fell by -17.87% from $9.705 million in the corresponding period a year before.
Looking further, the fiscal period ending March 31, 2023, highlighted how First Bancorp Inc's profitability and operating margins mitigated to 47.06%, and net margin shrank to 38.89%. Operating earnings fell -17.94% to $9.644 million, squeezing First Bancorp Inc's operating margin to 47.06%, from 52.46% in the first quarter of 2022.
This downward trend could severely impact the company's financial stability, and its future prospects could be placed in jeopardy.
In conclusion, investors looking to profit from First Bancorp Inc's stocks should think twice.
With the company's poor financial performance, declining revenue, and profitability metrics, there is substantial bearish sentiment towards the stock.
It is safe to assume that the company will continue to face significant headwinds and that investors may want to avoid such an investment.
Other FNLC's news
The First Bancorp Stays Strong Amidst Market Volatility, Declares Quarterly Dividend
The First Bancorp Stays Strong Amidst Market Volatility, Declares Third Quarter Dividend
First Bancorp Inc Faces Significant EPS Decline Amidst Financial Span Closure in September 2023
EPS Drops due to Weak Sales at the FNLC during the second quarter of 2023 earnings season
First Bancorp*s Financial Stability at Risk as Earnings per Share Plummet by 18% in Fiscal Period
Income advanced by 10.98 % at FNLC over the third quarter of 2022
revenue Increased admirably at in the financial third quarter of 2022
Other FNLC's news
The First Bancorp Stays Strong Amidst Market Volatility, Declares Quarterly Dividend
The First Bancorp Stays Strong Amidst Market Volatility, Declares Third Quarter Dividend
First Bancorp Inc Faces Significant EPS Decline Amidst Financial Span Closure in September 2023
EPS Drops due to Weak Sales at the FNLC during the second quarter of 2023 earnings season
First Bancorp*s Financial Stability at Risk as Earnings per Share Plummet by 18% in Fiscal Period
Income advanced by 10.98 % at FNLC over the third quarter of 2022
revenue Increased admirably at in the financial third quarter of 2022