Amalgamated Financial (NASDAQ:AMAL) Full Year 2024 Results
Key Financial Results
- Revenue: US$304.3m (up 11% from FY 2023).
- Net income: US$106.4m (up 21% from FY 2023).
- Profit margin: 35% (up from 32% in FY 2023). The increase in margin was driven by higher revenue.
- EPS: US$3.48 (up from US$2.88 in FY 2023).
AMAL Banking Performance Indicators
- Net interest margin (NIM): 3.51% (up from 3.41% in FY 2023).
- Non-performing loans: 0.55% (down from 0.77% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Amalgamated Financial Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 2.8%.
In the last 12 months, the only revenue segment was Banking contributing US$304.3m. The largest operating expense was General & Administrative costs, amounting to US$139.1m (70% of total expenses). Explore how AMAL's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 9.1% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Amalgamated Financial's balance sheet and an in-depth analysis of the company's financial position.
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About NasdaqGM:AMAL
Amalgamated Financial
Operates as the bank holding company for Amalgamated Bank that provides commercial and retail banking, investment management, and trust and custody services for commercial and retail customers in the United States.
Flawless balance sheet and undervalued.
