USCB Financial Holdings Second Quarter 2024 Earnings: Beats Expectations

USCB Financial Holdings (NASDAQ:USCB) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$19.7m (up 24% from 2Q 2023).
• Net income: US$6.21m (up 48% from 2Q 2023).
• Profit margin: 32% (up from 26% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.32 (up from US$0.21 in 2Q 2023).

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

USCB Financial Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 33%.

Looking ahead, revenue is forecast to grow 16% 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 7.6% 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. See our latest analysis on USCB Financial Holdings' balance sheet health.

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