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PFC Nasdaq· Premier Financial Corp
Earnings report Q3 2023

PFC Reports Stable Revenue in the Latest Quarter

Segments of revenue

PFC's revenue remained stable in the latest quarter. The company generated $3.5 million in insurance commissions for the third quarter of 2022. However, due to the sale of First Insurance, PFC did not generate any insurance commission income after June 30, 2023.

Strengths

PFC's stable revenue in the latest quarter indicates the company's ability to maintain its income streams. The sale of a position resulted in a realized gain, contributing to the overall revenue. Additionally, PFC's focus on mezzanine funding through PFC Capital provides an additional source of revenue from the cash flow of businesses in the company's market area.

Challenges

PFC faced a challenge in the insurance commission segment due to the sale of First Insurance. This resulted in a decline in insurance commission income after June 30, 2023. The absence of this income stream may impact PFC's overall revenue in future quarters.

Noteworthy

PFC's revenue performance in the latest quarter was not impacted by changes in valuations in the equity securities portfolio or market conditions. The company's revenue stability can be attributed to the realized gain from the sale of a position.

Summary

PFC reported stable revenue in the latest quarter, with $3.5 million in insurance commissions. The sale of First Insurance affected the insurance commission income after June 30, 2023. However, PFC's focus on mezzanine funding through PFC Capital provides an additional revenue source. The company's ability to maintain its income streams and the realized gain from the sale of a position contribute to its overall revenue stability.

Source documents

Form 10-Q  filed on Nov 09, 2023
89 pages scanned

Reference data

Company financials Q3 revenue 62.8M
Analyst estimates Q3 EPS missed by -3.86%
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