Community Financial System Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Community Financial System (NYSE:CBU) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$181.2m (up 5.1% from 3Q 2023).
• Net income: US$43.7m (flat on 3Q 2023).
• Profit margin: 24% (down from 26% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.83.

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

Community Financial System Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 5.3%.

Looking ahead, revenue is forecast to grow 9.9% 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 shares are up 1.6% 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. We've done some analysis and you can see our take on Community Financial System's balance sheet.

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