Yahoo Finance Provident Bancorp Second Quarter 2024 Earnings: Misses Expectations
Provident Bancorp (NASDAQ:PVBC) Second Quarter 2024 Results
Key Financial Results
Revenue: US$7.02m (down 60% from 2Q 2023).
Net loss: US$3.31m (down by 196% from US$3.46m profit in 2Q 2023).
US$0.20 loss per share (down from US$0.21 profit in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Provident Bancorp Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is forecast to grow 4.4% p.a. on average during the next 2 years, compared to a 6.4% growth forecast for the Banks industry in the US.
Performance of the American Banks industry.
The company's shares are down 10% from a week ago.
Balance Sheet Analysis
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on Provident Bancorp's balance sheet.
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