Northeast Community Bancorp Full Year 2023 Earnings: EPS Beats Expectations
Northeast Community Bancorp (NASDAQ:NECB) Full Year 2023 Results
Key Financial Results
Revenue: US$99.8m (up 53% from FY 2022).
Net income: US$46.3m (up 86% from FY 2022).
Profit margin: 46% (up from 38% in FY 2022). The increase in margin was driven by higher revenue.
EPS: US$3.32 (up from US$1.61 in FY 2022).
NECB Banking Performance Indicators
Net interest margin (NIM): 6.41% (up from 5.32% in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Northeast Community Bancorp EPS Beats Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.8%.
In the last 12 months, the only revenue segment was Thrift / Savings and Loan Institutions contributing US$99.8m. Explore how NECB's revenue and expenses shape its earnings.
Looking ahead, revenue is expected to decline by 1.3% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 5.7%.
Performance of the American Banks industry.
The company's shares are down 6.4% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for Northeast Community Bancorp that you should be aware of.
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