Sandy Spring Bancorp Second Quarter 2024 Earnings: Beats Expectations

Sandy Spring Bancorp (NASDAQ:SASR) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$98.9m (down 3.6% from 2Q 2023).
• Net income: US$22.8m (down 7.7% from 2Q 2023).
• Profit margin: 23% (in line with 2Q 2023).
• EPS: US$0.51 (down from US$0.55 in 2Q 2023).

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

Sandy Spring Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 18%.

Looking ahead, revenue is forecast to grow 13% 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 1.1% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of Sandy Spring Bancorp's balance sheet and an in-depth analysis of the company's financial position.

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