First Merchants Corp Q4 Profit Increases, Beats Estimates

(RTTNews) - First Merchants Corp (FRME) announced earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $63.9 million, or $1.10 per share. This compares with $42.01 million, or $0.71 per share, last year.

Excluding items, First Merchants Corp reported adjusted earnings of $58.1 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $0.9 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 13.2% to $177.1 million from $156.5 million last year.

First Merchants Corp earnings at a glance (GAAP) :

-Earnings: $63.9 Mln. vs. $42.01 Mln. last year. -EPS: $1.10 vs. $0.71 last year. -Revenue: $177.1 Mln vs. $156.5 Mln last year.