ESSA Bancorp Full Year 2023 Earnings: Beats Expectations
ESSA Bancorp (NASDAQ:ESSA) Full Year 2023 Results
Key Financial Results
Revenue: US$68.8m (flat on FY 2022).
Net income: US$18.6m (down 7.4% from FY 2022).
Profit margin: 27% (down from 29% in FY 2022).
EPS: US$1.91 (down from US$2.06 in FY 2022).
ESSA Banking Performance Indicators
Net interest margin (NIM): 3.24% (down from 3.38% in FY 2022).
Non-performing loans: 0.65% (down from 1.04% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
ESSA Bancorp Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) also surpassed analyst estimates by 3.2%.
In the last 12 months, the only revenue segment was Thrift / Savings and Loan Institutions contributing US$68.8m. The largest operating expense was General & Administrative costs, amounting to US$40.6m (81% of total expenses). Explore how ESSA's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 2 years, compared to a 3.9% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are up 5.9% 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. See our latest analysis on ESSA Bancorp's balance sheet health.
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