Horizon Bancorp Inc (HBNC)
| Sector • Financial Industry • Regional Banks |
| Industry • Regional Banks |
| Sector • Financial |
Earnings down on soft Revenue at the HBNC amid the financial time-frame ending March 31 2023
company reported first quarter of 2023 operating surplus of $20.091 million
Published 2023-05-12T22:41:45+00:00
Goran Soko / CSIMarket.com Contributer
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Revenue and income dropped in sympathy in the financial time-frame ending March 31 2023, where income fell by -22.22 % to $0.42 per share and revenue by -14.278 % year on year. Revenue were at $54.62 million in proportion to $63.71 million in first quarter of 2022. From the prior quarter, profits fell by -12.61 % from $0.48 per share and Revenue decreased by -1.925 % from $55.69 million.
Net profits of $18.228 million in the first quarter of 2023 earnings season fell by -22.64 % from $23.563 million in the corresponding period a year before. Looking further into first quarter of 2023 earnings season Horizon Bancorp Inc 's profitability, operating margin mitigated to 36.79%, and net margin shrank to 33.38%.
Operating earnings, fell -25.87% to $20.091 million, squeezing Horizon Bancorp Inc 's operating margin to 36.79%, from 42.54% in the first quarter of 2022.
Horizon Bancorp Inc is expected to report next financial recent numbers on August 07, 2023.