Lakeland Financial Corp. (NASDAQ:LKFN) today reported adjusted earnings of 78 cents per share for the quarter ended March 31, 2025, falling short of the average analyst expectation of 89 cents per share.
This also represents a decrease from the 91 cents per share reported in the same quarter last year.
Analysts had projected Lakeland Financial's adjusted earnings to be within a range of 85 cents to 92 cents per share for the quarter.
Despite the earnings miss, the company saw revenue increase by 6.3% year-over-year, reaching $63.80 million for the quarter, slightly exceeding the analyst consensus estimate of $63.71 million.
Lakeland Financial also reported a quarterly net income of $20.09 million.
Meanwhile, the company's stock has experienced a downturn in recent months, with shares falling by 9% during the quarter and posting a year-to-date loss of 21.3%.