CNB Financial Second Quarter 2024 Earnings: EPS Beats Expectations

CNB Financial (NASDAQ:CCNE) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$52.0m (down 2.2% from 2Q 2023).
• Net income: US$11.8m (down 7.1% from 2Q 2023).
• Profit margin: 23% (down from 24% in 2Q 2023).
• EPS: US$0.57 (down from US$0.61 in 2Q 2023).

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

CNB Financial EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.8%.

Looking ahead, revenue is expected to decline by 4.7% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 6.3%.

Performance of the American Banks industry.

The company's shares are down 4.3% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on CNB Financial's balance sheet.

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