Stock falls 12% as company’s profit is cut in half

  • First Western Financial shares sink 12% after 3Q profit drop
  • Profit cut in half in the third quarter
  • Stock falls 12% to $14.75
  • Shares down 48% this year
  • Third-quarter profit of $3.1 million, compared to $6.2 million a year earlier
  • Revenue before non-interest expense falls 18% to $22.5 million
  • Results impacted by higher interest expense, leading to lower net interest income

Factuality Level: 8
Justification: The article provides specific information about First Western Financial’s profit being cut in half in the third quarter, the decrease in stock price, and the company’s financial results compared to analyst expectations. The information provided is factual and does not contain any irrelevant or misleading information. However, the article does not provide any additional context or analysis, which could have enhanced the overall factuality level.

Noise Level: 3
Justification: The article provides relevant information about First Western Financial’s profit decline in the third quarter, including the stock price decrease and the comparison with analysts’ expectations. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people. It also does not provide actionable insights or solutions.

Financial Relevance: Yes
Financial Markets Impacted: Shares of First Western Financial

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial performance of First Western Financial, a financial services holding company. The company’s profit was cut in half in the third quarter, leading to a decline in its stock price. However, there is no mention of any extreme event or its impact.

Public Companies: First Western Financial (N/A)
Private Companies:
Key People:

Shares of First Western Financial sank 12% after the company reported a 50% decline in profit for the third quarter. The stock fell to $14.75, marking a 48% decrease for the year. First Western Financial recorded a profit of $3.1 million, compared to $6.2 million in the same period last year. The company’s revenue before non-interest expense also dropped by 18% to $22.5 million, falling short of analysts’ expectations. The decline in profit was attributed to higher interest expense, resulting in lower net interest income.