- United States
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- NasdaqCM:FLIC
First of Long Island Second Quarter 2024 Earnings: Beats Expectations
First of Long Island (NASDAQ:FLIC) Second Quarter 2024 Results
Key Financial Results
- Revenue: US$20.7m (down 16% from 2Q 2023).
- Net income: US$4.80m (down 31% from 2Q 2023).
- Profit margin: 23% (down from 28% in 2Q 2023). The decrease in margin was driven by lower revenue.
- EPS: US$0.21 (down from US$0.31 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
First of Long Island Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 27%.
Looking ahead, revenue is forecast to grow 11% 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 11% 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. We've done some analysis and you can see our take on First of Long Island's balance sheet.
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About NasdaqCM:FLIC
First of Long Island
Operates as the holding company for The First National Bank of Long Island that provides financial services to small and medium-sized businesses, professionals, consumers, municipalities, and other organizations.
Flawless balance sheet established dividend payer.
