NASDAQ$FRST

Primis Financial Corp · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Primis Financial Corp. reported preliminary earnings for Q1 2024.

Primis Financial Corp. announced preliminary results for the first quarter of 2024, noting that these results reflect the same accounting methodology as in prior periods and are subject to adjustment based on the SEC's pre-clearance process. The Board of Directors declared a dividend of $0.10 per share payable on May 24, 2024.

  • Preliminary Q1 2024 results were reported, pending completion of SEC pre-clearance process.
  • Results reflect the same accounting methodology as in prior periods for comparison purposes.
  • Pre-tax income included $2.0 million of pre-tax losses attributable to PFH.
  • A dividend of $0.10 per share was declared, payable on May 24, 2024.

Headline financials

Total Revenue

$35.6M

Previous: $39.9M-10.9%
EPS

$0.10

Previous: $0.23-56.5%
Net Interest Margin

0.0%

Previous: 3.1%-99.1%
Cost of Funds

0.0%

No prior period
Return on Avg Assets

0.0%

No prior period
Operating ROA

0.0%

No prior period
PTPP ROA

0.0%

No prior period
Operating PTPP ROA

0.0%

No prior period
ROE

0.0%

No prior period
Operating ROE

0.0%

No prior period
Op. ROATCE

0.0%

No prior period
Loans to Deposits

1.0%

Previous: 83.0%-98.8%
Efficiency Ratio

0.8%

Previous: 68.6%-98.9%
Operating Efficiency

0.8%

No prior period
Book Value/Share

$15.16

No prior period
Tangible Book/Share

$11.31

No prior period
Dividend/Share

$0.10

No prior period
Non-perf. Assets/Assets

0.0%

No prior period
Net Charge-offs %

0.0%

No prior period
Core Net Charge-offs %

0.0%

No prior period
ACL to Total Loans

0.0%

Previous: 1.2%-98.6%
Common Eq./Assets

0.1%

No prior period
TCE/TA

0.1%

No prior period
Leverage Ratio

0.1%

No prior period
CET1 Ratio

0.1%

No prior period
Tier 1 Risk-Based

0.1%

No prior period
Total Risk-Based

0.1%

No prior period
Capital Expenditures

$0.00

Previous: -$461K+100.0%
Free Cash Flow

$2.47M

Previous: $5.31M-53.6%
Net Income

$2.47M

Previous: $5.78M-57.3%
Operating Income

$1.58M

Previous: $12.6M-87.4%
Gross Profit

$35.6M

Previous: $39.9M-10.9%
Cash & Equivalents

$88.7M

Previous: $607M-85.4%
Total Assets

$3.89B

Previous: $4.21B-7.5%
Stock-Based Comp

$227K

Previous: $108K+110.2%

Revenue & EPS history

Primis · Revenue · Quarterly

$35.6M

Q1 2024-10.9%vs Q1 2023
Beat estimate in 14 of 15 quarters(93%)
ActualEstimate

Revenue by segment

Primis · $2.03M total across 2 segments · Q3 2020

  • Account Fees
    $1.63M
  • BOLI Income
    $394K

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

+0.1%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+1.7%

Avg return

30 days after

49%

32 / 65 earnings

Positive

+12.2%

Q1 2020

Best reaction

-8.5%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.7%+4.8%+2.8%
Q4 2025-0.6%+5.4%-2.7%
Q3 2025+10.1%+10.7%+12.9%
Q2 2025-1.9%-4.5%-3.3%
Q1 2025-1.2%+7.0%+13.5%
Q4 2024-8.5%-4.3%-9.6%
Q3 2024-5.1%-3.1%+5.6%
Q2 2024+4.5%+3.5%-3.6%
Q1 2024-7.0%-11.1%-2.1%
Q4 2023+4.4%+8.2%-1.7%
Q3 2023+7.5%+21.2%+29.3%
Q2 2023-4.5%-2.5%-9.3%
Q1 2023-1.8%-13.1%-17.3%
Q4 2022-1.3%-0.8%-0.8%
Q3 2022+2.5%+1.8%-1.5%
Q2 2022+1.9%+1.1%+0.2%
Q1 2022+0.0%-2.5%-2.2%
Q4 2021-0.3%-1.0%-3.9%
Q3 2021+5.0%+7.2%+6.7%
Q2 2021+0.7%+1.4%-0.4%
Q1 2021+1.9%+3.1%+4.6%
Q4 2020+1.2%+2.1%+19.0%
Q3 2020+0.0%-3.5%+15.3%
Q2 2020-6.5%-4.5%-2.8%
Q1 2020+12.2%+3.3%+7.1%
Q4 2019+2.8%+4.3%-6.0%
Q3 2019+0.1%+0.6%+0.9%
Q2 2019+2.3%+1.7%-8.6%
Q1 2019-3.2%-3.9%-6.4%
Q4 2018+2.0%+7.3%+14.8%
Q3 2018+2.2%+3.1%+4.2%
Q2 2018-2.5%+2.6%+2.8%
Q1 2018+3.0%+2.5%+8.4%
Q4 2017+0.1%+0.7%-2.7%
Q3 2017-0.7%-3.3%-1.4%
Q2 2017-3.8%-2.7%-4.5%
Q1 2017-0.6%-4.3%-7.0%
Q4 2016-3.9%-1.4%+4.0%
Q3 2016-1.0%+0.0%+10.4%
Q2 2016-1.4%+3.9%+3.2%
Q1 2016-0.4%
Q4 2015-0.9%
Q3 2015+0.6%
Q2 2015-2.4%
Q1 2015-1.2%
Q4 2014-0.8%
Q3 2014+2.3%
Q2 2014+0.1%
Q1 2014-0.4%
Q4 2013+0.6%
Q3 2013+0.0%
Q2 2013+0.9%
Q1 2013-2.6%
Q4 2012+0.3%
Q3 2012+1.1%
Q2 2012+1.4%
Q4 2011+0.3%
Q1 2012+0.3%
Q4 2010+0.3%
Q3 2011+0.8%
Q2 2011+0.0%
Q1 2011+0.9%
Q3 2010-0.7%
Q2 2010+0.0%
Q1 2010+1.4%

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