Northeast Community Bancorp (NASDAQ:NECB) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$27.2m (up 11% from 2Q 2023).

• Net income: US$12.8m (up 15% from 2Q 2023).

• Profit margin: 47% (up from 45% in 2Q 2023). The increase in margin was driven by higher revenue.

• EPS: US$0.98 (up from US$0.75 in 2Q 2023).

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

Northeast Community Bancorp Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.2%. Earnings per share (EPS) also surpassed analyst estimates by 36%.

Looking ahead, revenue is expected to decline by 1.7% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 6.4%.

Performance of the American Banks industry.

The company's shares are up 1.4% from a week ago.

Risk Analysis

It is worth noting though that we have found 1 warning sign for Northeast Community Bancorp that you need to take into consideration.

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