Blue Foundry Bancorp (NASDAQ:BLFY) Full Year 2024 Results
Key Financial Results
- Revenue: US$40.7m (down 7.9% from FY 2023).
- Net loss: US$11.9m (loss widened by 61% from FY 2023).
- US$0.56 loss per share (further deteriorated from US$0.31 loss in FY 2023).
BLFY Banking Performance Indicators
- Net interest margin (NIM): 1.90% (down from 2.09% in FY 2023).
- Cost-to-income ratio: 133.7% (up from 117.9% in FY 2023).
- Non-performing loans: 0.32% (down from 0.39% in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Blue Foundry Bancorp EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.1%.
In the last 12 months, the only revenue segment was Banking contributing US$40.7m. The largest operating expense was General & Administrative costs, amounting to US$46.9m (89% of total expenses). Explore how BLFY's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 15% 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 share price is broadly unchanged from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for Blue Foundry Bancorp that you need to take into consideration.
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