Alerus: Fourth Quarter Earnings Overview

Alerus Financial Reports Fourth Quarter Loss

Alerus Financial Corporation, headquartered in Grand Forks, North Dakota, announced a net loss of $33.1 million for the fourth quarter.

The company reported a loss of $1.29 per share for the quarter. After excluding one-time expenses, adjusted earnings came in at 85 cents per share.

These adjusted earnings surpassed analysts’ expectations. According to Zacks Investment Research, the consensus estimate among three analysts was 57 cents per share.

During the quarter, Alerus generated $101.8 million in total revenue, with adjusted revenue totaling $63.4 million.

For the full year, Alerus posted a profit of $17.4 million, or 68 cents per share, on revenue of $239 million.

Since the start of the year, Alerus shares have gained nearly 6%. By the close of trading on Wednesday, the stock reached $23.80, marking an 18% increase over the past year.