Blue Foundry Bancorp Second Quarter 2024 Earnings: Beats Expectations

Blue Foundry Bancorp (NASDAQ:BLFY) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$10.9m (down 2.4% from 2Q 2023).
• Net loss: US$2.34m (loss widened by 28% from 2Q 2023).
• US$0.11 loss per share (further deteriorated from US$0.075 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Blue Foundry Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.1%. Earnings per share (EPS) also surpassed analyst estimates by 48%.

Looking ahead, revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 6.7% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for Blue Foundry Bancorp (1 is concerning!) that you should be aware of before investing here.

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