SRBK
SR Bancorp Inc Common
Q2 2024 Report
SR Bancorp Inc (SRBK) Q2 2024 Financial Results: Performance Analysis and Market Outlook...
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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
11.48M
QoQ: 45.98% | YoY:-5.58%
Gross Profit
11.48M
1.00% margin
QoQ: 174.25% | YoY:-5.58%
Operating Income
10.92M
QoQ: 711.82% | YoY:17.67%
Net Income
537.00K
QoQ: -47.40% | YoY:-49.48%
EPS
0.06
QoQ: -50.00% | YoY:-50.00%
Revenue Trend
Margin Analysis
Key Insights
- 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%)