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

Key Financial Results

• Revenue: US$181.1m (up 3.8% from 2Q 2023).

• Net income: US$47.9m (flat on 2Q 2023).

• Profit margin: 27% (down from 28% in 2Q 2023). The decrease in margin was driven by higher expenses.

• EPS: US$0.91.

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

Community Financial System Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 7.5% 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 up 7.1% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Community Financial System's balance sheet and an in-depth analysis of the company's financial position.

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