Amalgamated Financial (NASDAQ:AMAL) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$75.3m (up 12% from 2Q 2023).

• Net income: US$26.8m (up 24% from 2Q 2023).

• Profit margin: 36% (up from 32% in 2Q 2023). The increase in margin was driven by higher revenue.

• EPS: US$0.88 (up from US$0.71 in 2Q 2023).

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

Amalgamated Financial EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 3 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 2.3% 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 Amalgamated Financial's balance sheet and an in-depth analysis of the company's financial position.

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