Northfield Bancorp (Staten Island NY) Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Northfield Bancorp (Staten Island NY) (NASDAQ:NFBK) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$29.3m (down 7.5% from 3Q 2023).
• Net income: US$6.52m (down 20% from 3Q 2023).
• Profit margin: 22% (down from 26% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.16 (down from US$0.19 in 3Q 2023).

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

Northfield Bancorp (Staten Island NY) EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 5.9%. Earnings per share (EPS) exceeded analyst estimates by 2.1%.

Looking ahead, revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's share price is broadly unchanged from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Northfield Bancorp (Staten Island NY)'s balance sheet health.

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