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

While earnings are important, another area to consider is the balance sheet. We've done some analysis and you can see our take on Sandy Spring Bancorp's balance sheet.

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