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First Merchants Earnings Calls

Q1 2025 Beat
$0.94 (3.30%)
Release date Apr 24, 2025
EPS estimate $0.91
EPS actual $0.94
EPS Surprise 3.30%
Revenue estimate 170.905M
Revenue actual 160.318M
Revenue Surprise -6.19%
Q4 2024 Beat
$1.00 (11.11%)
Release date Jan 30, 2025
EPS estimate $0.90
EPS actual $1.00
EPS Surprise 11.11%
Revenue estimate 167M
Revenue actual 157.129M
Revenue Surprise -5.91%
Q3 2024 Missed
$0.84 (-6.67%)
Release date Oct 24, 2024
EPS estimate $0.90
EPS actual $0.84
EPS Surprise -6.67%
Revenue estimate 166.335M
Revenue actual 155.976M
Revenue Surprise -6.23%
Q2 2024 Missed
$0.680 (-15.00%)
Release date Jul 25, 2024
EPS estimate $0.80
EPS actual $0.680
EPS Surprise -15.00%
Revenue estimate 160.51M
Revenue actual 267.342M
Revenue Surprise 66.56%

Last 4 Quarters for First Merchants

Below you can see how FRME performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.

Q2 2024 Missed
Release date Jul 25, 2024
Fiscal end date Jun 30, 2024
Price on release $40.43
EPS estimate $0.80
EPS actual $0.680
EPS surprise -15.00%
Date Price
Jul 19, 2024 $38.72
Jul 22, 2024 $39.36
Jul 23, 2024 $40.54
Jul 24, 2024 $39.62
Jul 25, 2024 $40.43
Jul 26, 2024 $41.35
Jul 29, 2024 $40.30
Jul 30, 2024 $40.41
Jul 31, 2024 $40.35
4 days before 4.42%
4 days after -0.198%
On release day 2.28%
Change in period 4.21%
Q3 2024 Missed
Release date Oct 24, 2024
Fiscal end date Sep 30, 2024
Price on release $36.00
EPS estimate $0.90
EPS actual $0.84
EPS surprise -6.67%
Date Price
Oct 18, 2024 $38.83
Oct 21, 2024 $37.38
Oct 22, 2024 $37.35
Oct 23, 2024 $37.36
Oct 24, 2024 $36.00
Oct 25, 2024 $35.75
Oct 28, 2024 $37.16
Oct 29, 2024 $37.12
Oct 30, 2024 $37.73
4 days before -7.29%
4 days after 4.81%
On release day -0.694%
Change in period -2.83%
Q4 2024 Beat
Release date Jan 30, 2025
Fiscal end date Dec 31, 2024
Price on release $42.71
EPS estimate $0.90
EPS actual $1.00
EPS surprise 11.11%
Date Price
Jan 24, 2025 $40.35
Jan 27, 2025 $41.19
Jan 28, 2025 $41.37
Jan 29, 2025 $41.26
Jan 30, 2025 $42.71
Jan 31, 2025 $44.44
Feb 03, 2025 $44.10
Feb 04, 2025 $44.35
Feb 05, 2025 $44.71
4 days before 5.85%
4 days after 4.68%
On release day 4.05%
Change in period 10.81%
Q1 2025 Beat
Release date Apr 24, 2025
Fiscal end date Mar 31, 2025
Price on release $36.50
EPS estimate $0.91
EPS actual $0.94
EPS surprise 3.30%
Date Price
Apr 17, 2025 $35.53
Apr 21, 2025 $34.92
Apr 22, 2025 $36.23
Apr 23, 2025 $36.92
Apr 24, 2025 $36.50
Apr 25, 2025 $35.56
Apr 28, 2025 $35.61
Apr 29, 2025 $35.91
Apr 30, 2025 $35.64
4 days before 2.73%
4 days after -2.36%
On release day -2.58%
Change in period 0.310%

First Merchants Earnings Call Transcript Summary of Q1 2025

Summary of Key Points from First Merchants Corporation Q1 2025 Earnings Call

  • Strong Financial Performance:
    • Net Income: $54.9 million, up 15.6% year-over-year.
    • Earnings Per Share (EPS): Increased from $0.80 to $0.94, a 17.5% rise, fueled by balance sheet growth, improved margins, fee income growth, and share repurchases.
    • Assets: Total assets reached $18.4 billion, with $13 billion in total loans and $14.5 billion in total deposits.
  • Loan Growth:
    • Annualized Loan Growth: Achieved 4.8% growth this quarter, primarily driven by a $169 million increase in the commercial lending segment.
    • Commercial & Industrial (C&I) Loans: Grew by $248 million; however, investment real estate loans declined by $96 million.
    • Consumer Loans: The mortgage segment saw volume growth of over 15% YoY, indicating a strong pipeline.
  • Deposit Management:
    • Total Deposits: Declined 1.6% annualized, primarily due to reductions in public funds, which have higher costs.
    • Core Deposits: Increased by $188 million, reflecting effective management strategies amidst a shrinking overall deposit base.
  • Credit Quality:
    • Non-Performing Loans: Non-accrual loans increased, but overall asset quality remained stable with a low charge-off rate of 0.15% annualized.
    • Reserves: Adequate coverage with a reserve of $192 million, maintaining a coverage ratio well above peer levels.
  • Expense Management:
    • Efficiency Ratio: Maintained at 54.54% due to disciplined expense management, with a noticeable decrease in salaries and benefits following an early retirement program.
    • Projected Expenses: Guidance remains at 1-3% growth over the previous year.
  • Capital Management:
    • Share Buyback Program: New $100 million program approved, with $10 million already repurchased.
    • Tangible Book Value: Increased 9.1% YoY to $27.34 per share.
  • Outlook:
    • Mid-to-High Single-Digit Loan Growth: Guidance for the year remains unchanged despite potential market volatility.
    • Economic Uncertainty: Management is attentive to impacts from tariffs and market fluctuations but sees strong pipeline activity.
  • M&A Strategy:
    • Current Focus: No immediate plans for acquisitions, maintaining a focus on organic growth and strategic selectivity in M&A discussions.

Conclusion for Investors:

Overall, First Merchants Corporation presented a strong financial performance for Q1 2025 with positive growth in net income, controlling expenses, and prudent credit management. Investors should note the potential challenges posed by market volatility and tariffs but can be reassured by the company's stable outlook and robust operational metrics.

First Merchants Earnings History

Earnings Calendar

FAQ

When is the earnings report for FRME?
First Merchants Corporation (FRME) has scheduled its earnings report for Jul 24, 2025 before the markets open.

What is the FRME price-to-earnings (P/E) ratio?
FRME P/E ratio as of May 23, 2025 (TTM) is 10.37.

What is the FRME EPS forecast?
The forecasted EPS (Earnings Per Share) for First Merchants Corporation (FRME) for the first fiscal quarter 2025 is $0.94.

What are First Merchants Corporation's retained earnings?
On its balance sheet, First Merchants Corporation reported retained earnings of $160.32 million for the latest quarter ending Mar 31, 2025.

What Is an Earnings Report?
An earnings report is usually issued quarterly (Q1, Q2, Q3 & Q4) by public companies to report their performance. Earnings reports typically include net income, earnings per share, earnings from continuing operations, and net sales. Looking at the earnings report investors can start gauge the financial health of the company and make even better decisions whether to buy, sell, or stay in the company. Fundamental analysts and value investors will typically hunt for stocks that continue to show good financial ratios and use a decline as an exit point. One of the most anticipated numbers for analysis is earnings per share because it indicates how much the company earned for its shareholders. The report will also indicate a possible dividend.

Earnings Report Content
Earnings reports generally provide an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. These figures are typically measured against previous quarters/years. Furthermore, the earnings report usually includes a summary and analysis from the CEO or company spokesman, alongside a more general view of the financials and future forecast.

What To Know About Earnings Reports?
Announcement of earnings for a stock, particularly for well followed large-capitalization stocks, can move the market. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. Despite good reports, stocks may very well fall if the investors were expecting more or they believe the next quarter will not be as good. Investors always try to be ahead of the market and future earnings/losses are often discounted into the current price of the stock. It is natural for stocks to start to move in either direction a few days before the release of an earnings report.
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ABOUT FIRST MERCHANTS CORPORATION
First Merchants
First Merchants Corporation operates as the financial holding company for First Merchants Bank that provides community banking services. It accepts time, savings, and demand deposits; and provides consumer, commercial, agri-business, and real estate mortgage loans, as well as public finance. The company also offers personal and corporate trust; brokerage and private wealth management; and letters of credit, repurchase agreements, and other corpor...
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