HarborOne Bancorp Second Quarter 2024 Earnings: Beats Expectations

HarborOne Bancorp (NASDAQ:HONE) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$42.7m (up 2.8% from 2Q 2023).
• Net income: US$7.30m (down 2.4% from 2Q 2023).
• Profit margin: 17% (in line with 2Q 2023).
• EPS: US$0.18.

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

HarborOne Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 8.0%.

Looking ahead, revenue is expected to decline by 12% 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 up 7.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for HarborOne Bancorp that you need to be mindful of.

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