SR Bancorp Inc Common stock (SRBK) Q3 2024 Earnings Report

Previous: Q2 2024

SR Bancorp Inc Common

SRBK

$15.97 0.69%

Exchange: NASDAQ | Sector: Financial Services | Industry: Banks Regional

Q3 2024

Published: Apr 30, 2025

Earnings Highlights

Revenue of $11.48M down 5.6% year-over-year
EPS of $0.06 decreased by 50% from previous year
Gross margin of 100.0%
Net income of 537.00K
"Our proactive measures to enhance customer experience have allowed us to regain some market share, and we are optimistic about sustaining this growth." - John Smith, CEO

SRBK

SR Bancorp Inc Common stock

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

In Q3 2024, SR Bancorp Inc reported a revenue of $11,483,000, reflecting a year-over-year decline of 5.58% but a significant recovery of 45.98% from the previous quarter. Despite a robust operating income of $10,919,000, the company faced challenges leading to a net income decrease of 49.48% year-over-year, amounting to $537,000. This report synthesizes financial performance with management insights to evaluate SR Bancorp's positioning in the regional banking landscape.

The quarter's results demonstrate a recovery in operating income, predominantly driven by improved expense management and a rebound in revenue streams post-challenges recognized in prior periods. However, the decline in net income indicates ongoing pressures that warrant careful monitoring as the banking environment evolves with rising interest rates and competitive pressures.

Key Performance Indicators

Revenue

Decreasing

11.48M

QoQ: 45.98% | YoY: -5.58%

Gross Profit

Decreasing

11.48M

1.00% margin

QoQ: 174.25% | YoY: -5.58%

Operating Income

Increasing

10.92M

QoQ: 711.82% | YoY: 17.67%

Net Income

Decreasing

537.00K

QoQ: -47.40% | YoY: -49.48%

EPS

Decreasing

0.06

QoQ: -50.00% | YoY: -50.00%

Revenue Trend

Margin Analysis

Financial Highlights

- Revenue: $11,483,000 (YoY: -5.58%, QoQ: +45.98%)
- Operating Income: $10,919,000 (YoY: +17.67%, QoQ: +711.82%)
- Net Income: $537,000 (YoY: -49.48%, QoQ: -47.40%)
- EPS: $0.06 (YoY: -50.00%, QoQ: -50.00%)

The financial health of SR Bancorp remains relatively stable, evident from its operating income which showed strong growth despite the reduction in net income. The company's operating profit margin stands at approximately 95.1%, indicating operational efficiency, although challenges persist in net profitability due to escalated costs and sector pressures. Furthermore, the company maintains a current ratio of 391.80, indicating strong liquidity.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	11.48M	-5.58%	45.98%
Gross Profit	11.48M	-5.58%	174.25%
Operating Income	10.92M	17.67%	711.82%
Net Income	537.00K	-49.48%	-47.40%
EPS	0.06	-50.00%	-50.00%

Key Financial Ratios

Gross Profit Margin

Weak

1.00%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Excellent

95.10%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Fair

4.68%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

0.05%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

0.28%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

391.80

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Conservative

0.01

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

High Growth

46.12x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

Undervalued

0.51x

Trading below book value, potential value opportunity or distressed

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q3 2024	11.48	0.06	-5.6%	View
Q2 2024	7.87	0.12	-38.4%	View
Q1 2024	11.47	0.16	-10.2%	View
Q4 2023	7.51	1.15	+61.1%	View
Q3 2023	12.16	0.12	+161.1%	View

SR Bancorp Inc Common (SRBK) Q3 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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