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Blue Foundry (BLFY)
NASDAQ:BLFY
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.18Last Year’s EPS
-$0.13Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -2.69%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Neutral
The earnings call presents a mixed outlook. While there are positive indications in deposit and loan growth, tangible book value, and capital/liquidity position, the company faces challenges with a reported net loss, decreased net interest margin, and rising cost of funds. The sentiment is balanced with notable achievements in commercial deposits and asset quality improvements but offset by profitability concerns.Company Guidance
During Blue Foundry Bancorp's Q3 2024 earnings call, several key financial metrics were highlighted to provide guidance for future performance. The company reported a net loss of $4 million and a pre-provision net loss of $3.8 million for the quarter. Despite this, deposits grew by $7.5 million, and loans increased by $3.6 million. The tangible book value per share rose by $0.05 to $14.74. Blue Foundry also repurchased 522,000 shares at an average price of $10.52, enhancing shareholder value. The company's tangible equity to tangible common assets stood at 16.5%, reflecting a strong capital position. Nonperforming assets decreased by $1.1 million, improving the nonperforming assets to total assets ratio by 5 basis points. The net interest margin saw a 14 basis point reduction, attributed to a $486,000 decrease in net interest income. Looking ahead, management expressed confidence in sustained loan growth, driven by an active commercial loan pipeline, and anticipated positive impacts on net interest income from expected Federal Reserve rate cuts.Increase in Deposits and Loans
Deposits increased by $7.5 million and loans grew by $3.6 million, indicating positive growth in customer engagement.
Tangible Book Value Per Share Growth
Tangible book value per share increased by $0.05 to $14.74, reflecting an improvement in shareholder value.
Strong Capital and Liquidity Position
Tangible equity to tangible common assets was 16.5%, with $334 million in untapped borrowing capacity, indicating robust capital and liquidity management.
Increase in Commercial Deposits
Commercial deposits increased by 11% and consumer deposits by 7%, demonstrating successful strategic focus on small- to medium-sized businesses.
Nonperforming Assets and Loans Improvement
Nonperforming assets declined by $1.1 million, resulting in reductions in the ratios of nonperforming assets to total assets and nonperforming loans to total loans.
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BLFY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BLFY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $10.04 | $9.91 | -1.29% |
| Jul 24, 2024 | $11.08 | $10.80 | -2.53% |
| Apr 24, 2024 | $8.59 | $8.68 | +1.05% |
| Jan 24, 2024 | $9.67 | $10.04 | +3.83% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Blue Foundry (BLFY) report earnings?
Blue Foundry (BLFY) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Blue Foundry (BLFY) earnings time?
Blue Foundry (BLFY) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BLFY EPS forecast?
BLFY EPS forecast for the fiscal quarter 2024 (Q4) is -$0.18.
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