Brookline Bancorp Third Quarter 2024 Earnings: Beats Expectations

Brookline Bancorp (NASDAQ:BRKL) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$84.7m (down 2.1% from 3Q 2023).
• Net income: US$20.1m (down 11% from 3Q 2023).
• Profit margin: 24% (down from 26% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.23 (down from US$0.26 in 3Q 2023).

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

Brookline Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 14%.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 7.9% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on Brookline Bancorp's balance sheet health.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.