OceanFirst Financial Second Quarter 2024 Earnings: Misses Expectations – Information Today Internet

OceanFirst Financial (NASDAQ:OCFC) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$90.1m (down 9.7% from 2Q 2023).

• Net income: US$23.4m (down 13% from 2Q 2023).

• Profit margin: 26% (in distinction with 2Q 2023).

• EPS: US$0.40 (down from US$0.45 in 2Q 2023).

All figures shown in the interpret above are for the chase 12 period (TTM) period

OceanFirst Financial Revenues and Earnings Miss Expectations

Revenue uncomprehensible shrink estimates by 2.2%. Earnings per deal (EPS) also uncomprehensible shrink estimates by 4.8%.

Looking ahead, income is prognosticate to acquire 5.4% p.a. on cipher during the incoming 2 years, compared to a 5.7% ontogeny prognosticate for the phytologist business in the US.

Performance of the American phytologist industry.

The company’s shares are up 3.3% from a hebdomad ago.

Balance Sheet Analysis

Just as investors staleness study earnings, it is also essential to verify into statement the capableness of a company’s equilibrise sheet. See our stylish psychotherapy on OceanFirst Financial’s equilibrise artefact health.

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