Primis Financial Corp (NASDAQ:FRST) has reported its financial results for the fourth quarter of 2025, delivering a dramatic swing to profitability that significantly surpassed analyst expectations on the top line. The McLean, Virginia-based bank holding company’s earnings release highlights a period of substantial recovery and operational strength.
Earnings Report Summary
The core of the announcement centers on a complete reversal of fortune year-over-year. For the quarter ending December 31, 2025, Primis reported net income available to common shareholders of $30 million, or $1.20 per diluted share. This stands in stark contrast to the net loss of $23 million, or $0.94 per share, recorded in the same quarter of 2024. The full-year results further cement this turnaround, with 2025 net income of $61 million ($2.49 per share) compared to a 2024 net loss of $16 million ($0.66 per share). The company also declared a quarterly cash dividend of $0.10 per share.
Revenue and EPS Versus Estimates
The quarterly performance was notably strong on the revenue front, though a discrepancy exists between the reported earnings per share figure and analyst estimates. It is important to distinguish between the GAAP earnings reported in the press release and the non-GAAP metrics often tracked by analysts.
- Reported Revenue (Q4 2025): $45.07 million
- Analyst Estimated Revenue (Q4 2025): $30.05 million Primis’s revenue outperformed expectations by approximately 50%, a substantial beat that indicates stronger-than-anticipated core banking operations.
Regarding earnings per share, the data presents two different figures:
- Reported GAAP Diluted EPS (Q4 2025): $1.20
- Analyst Estimated Non-GAAP EPS (Q4 2025): $1.13 The company’s reported GAAP EPS of $1.20 came in above the analyst estimate. However, a separate provided data point lists a "Reported Earnings per Share (Non-GAAP EPS)" of $0.10 for the same quarter, which would represent a significant miss against the $1.13 estimate. This large variance suggests the presence of significant one-time items or accounting adjustments between the GAAP and non-GAAP figures reported by the company. Investors are advised to review the official SEC filings for a detailed reconciliation.
Market Reaction and Price Action
The market’s immediate reaction to this mixed earnings picture has been muted. Following the release, the stock’s after-market performance showed no change (0.0%). This neutral after-hours movement suggests investors are digesting the complex results—weighing the powerful revenue beat and return to profitability against the questions surrounding earnings composition.
Recent performance leading up to the report provides additional context:
- Performance over the last month: +3.66%
- Performance over the last two weeks: +0.97%
- Performance over the last week: -3.76%
The slight positive trend over the month may have reflected building optimism, while the dip in the most recent week could indicate some pre-earnings caution. The flat after-market trading implies the report did not provide a decisive catalyst in either direction based on the initial headline numbers.
Forward-Looking Estimates
Looking ahead, analyst estimates for Primis provide a benchmark for future performance. For the first quarter of 2026, analysts are forecasting revenue of approximately $35.76 million and earnings per share of $0.39. For the full 2026 year, the current sales estimate stands at about $149.33 million, with a revenue estimate of $1.71. The press release did not provide formal company guidance for these future periods, so these analyst projections serve as the current market expectation for the company’s trajectory.
The quarterly report from Primis Financial Corp. paints a picture of a company that has successfully navigated back to profitability with robust revenue generation. The market’s tentative reaction, however, underscores the importance of delving beyond the headline profit number to understand the quality and sustainability of those earnings. The focus now shifts to how the company will perform against future estimates and manage its operations in the coming quarters.
For a detailed breakdown of historical earnings and future analyst estimates, you can review the data here: FRST Earnings & Estimates.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, investment recommendation, or an offer to buy or sell any security. Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
