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Alerus Financial Corporation (ALRS)
NASDAQ:ALRS
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.43Last Year’s EPS
0.25Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 28, 2025
|% Change Since: 2.23%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong overall performance with significant growth in loans, deposits, and revenues, driven by a successful acquisition and organic growth. However, challenges in managing expenses and an increase in non-performing assets presented areas of concern.Company Guidance
During the Alerus Financial Corporation earnings call for the fourth quarter and full year 2024, the company highlighted several key metrics and strategic accomplishments. They reported an adjusted return on tangible equity surpassing 14% and a substantial net interest income increase of nearly 70%, with a net interest margin improving by 97 basis points to 3.2%. The acquisition of Home Federal significantly boosted total assets to over $5 billion and expanded the client base by nearly 50%, contributing to a 31.7% growth in both loans and deposits. Organic growth remained robust, with loans and deposits increasing by over 30% and 3%, respectively. Non-interest income, representing nearly half of total revenues, grew by almost 20% quarter-over-quarter. Alerus also saw a 6% revenue growth in their Retirement business and 19% in their Wealth business. The adjusted efficiency ratio improved to 68.97% from 77.71% in the prior quarter. For 2025, Alerus anticipates loan growth in the low to mid-single digits, a net interest margin greater than 3%, and a focus on cost saves to keep the adjusted efficiency ratio below 70%.Strong Financial Performance and Growth
Alerus Financial Corporation concluded 2024 with a strong financial performance, achieving an adjusted return on tangible equity surpassing 14%. The company reported more than 30% growth in loans and deposits, highlighting robust organic growth across all markets.
Successful Acquisition of Home Federal
The acquisition of Home Federal, the largest in company history, was successfully closed and converted, expanding Alerus Financial Corporation's assets to over $5 billion and increasing its client base by nearly 50%. Cost savings were 5% below initial estimates.
Improvement in Net Interest Income and Margin
Net interest income increased by nearly 70% and the net interest margin improved by 97 basis points to 3.2% due to the Home Federal acquisition and favorable repricing of loans and deposits.
Growth in Non-Interest Income
Non-interest income, accounting for nearly half of total revenues, grew by 20% quarter-over-quarter, driven by improvements in fee-based businesses and gains from office sales.
Retirement and Wealth Business Performance
The Retirement business saw 6% year-over-year revenue growth, while the Wealth business experienced a 19% increase in revenue. Both segments demonstrated strong organic growth and client acquisition.
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ALRS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ALRS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 28, 2025 | $20.18 | $20.95 | +3.82% |
| Oct 29, 2024 | $23.44 | $20.19 | -13.87% |
| Jul 24, 2024 | $21.51 | $21.57 | +0.28% |
| Apr 24, 2024 | $20.37 | $19.92 | -2.21% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Alerus Financial Corporation (ALRS) report earnings?
Alerus Financial Corporation (ALRS) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Alerus Financial Corporation (ALRS) earnings time?
Alerus Financial Corporation (ALRS) earnings time is at Apr 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ALRS EPS forecast?
ALRS EPS forecast for the fiscal quarter 2025 (Q1) is 0.43.
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