Middlefield Banc Third Quarter 2024 Earnings: Misses Expectations

Middlefield Banc (NASDAQ:MBCN) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$14.6m (down 13% from 3Q 2023).
• Net income: US$2.34m (down 39% from 3Q 2023).
• Profit margin: 16% (down from 23% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.29 (down from US$0.47 in 3Q 2023).

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

Middlefield Banc Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 36%.

Looking ahead, revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 5.1% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Middlefield Banc's balance sheet and an in-depth analysis of the company's financial position.

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