News
Community Financial System Q2 2024 Earnings: Beat Expectations
Community Financial System (NYSE: CBU) Second Quarter 2024 Results
Main financial results
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Revenue: $181.1 million (up 3.8% from Q2 2023).
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Net income: US$47.9 million (stable compared to 2Q23).
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Profit margin: 27% (down from 28% in Q2 2023). The reduction in margin was driven by higher expenses.
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Earnings per share: $0.91.
earnings-and-revenue-growth
All numbers shown in the chart above are for the trailing 12 month period (TTM)
Community financial system revenues and profits exceed expectations
Revenue beat analysts’ estimates by 2.0%. Earnings per share (EPS) also beat analysts’ estimates by 13%.
Looking ahead, revenue is forecast to grow by an average of 7.5% per year over the next 2 years, compared to a 6.4% growth forecast for the US banking sector.
Performance of the American banking sector.
The company’s shares are up 7.1% from last week.
Balance Sheet Analysis
While it is very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphical representation of Community Financial System’s balance sheet and an in-depth analysis of the company’s financial position.
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