Orrstown Financial Services Second Quarter 2024 Earnings: Revenues Disappoint

Orrstown Financial Services (NASDAQ:ORRF) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$32.5m (down 2.0% from 2Q 2023).
• Net income: US$7.74m (down 21% from 2Q 2023).
• Profit margin: 24% (down from 30% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: US$0.74 (down from US$0.95 in 2Q 2023).

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

Orrstown Financial Services Revenues Disappoint

Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 3.0% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Orrstown Financial Services (1 is potentially serious!) that you should be aware of.

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