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Community Bank System (DE:CBY)
FRANKFURT:CBY
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Earnings Data
Report Date
Jan 21, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
€0.86Last Year’s EPS
€0.77Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 2.51%
|Next Earnings Date:Jan 21, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive outlook with strong growth in net interest income, record operating revenues, and recognition in industry rankings. However, there were challenges such as increased provisions for credit losses and higher nonperforming loans. The strategic investments and optimistic business outlook for future growth reinforce a positive sentiment.Company Guidance
During the Community Financial Systems Inc. Third Quarter 2024 Earnings Conference Call, the company provided guidance on several key metrics that reflect its current financial standing and future outlook. The company reported a PPNR of $1.29 per share, consistent with the previous quarter and an 11.2% increase compared to the prior year. Net interest income reached $112.7 million, marking a 3% increase from the linked second quarter, while total operating revenues amounted to $189.1 million, up 7.8% year-over-year. The company’s allowance for credit losses stood at $76.2 million, representing 74 basis points of total loans, with nonperforming loans at $62.8 million or 16 basis points of total loans. The effective tax rate for the quarter was reported at 23%. Additionally, the company maintained a strong liquidity position with $4.49 billion in readily available liquidity sources, and a loan-to-deposit ratio of 76.1%. Looking forward, the company anticipates continued net interest income growth, driven by both loan growth and strategic deposit management, while also focusing on maintaining expense growth at mid-single-digit rates.Strong Net Interest Income Growth
Net interest income surpassed the prior peak from Q4 2022 and is up on a year-to-date basis compared to 2023. Net interest income for Q3 2024 was $112.7 million, a 3% increase over the linked Q2 results.
Record Operating Revenues
The company recorded total operating revenues of $189.1 million in Q3 2024, up $13.7 million or 7.8% from the previous year, marking the fifth consecutive quarter of increases in total operating revenues.
Loan and Deposit Growth
Ending loans increased by $227.8 million or 2.3% during Q3 2024, marking the 13th consecutive quarter of loan growth. Ending deposits increased by $338.3 million or 2.6% during the same period.
Recognition and Awards
BPAS was recognized as a top 5 record keeper by the National Association of Plan Advisors for the third consecutive year. The insurance services segment was ranked as the 66th largest broker in the U.S. by the Insurance Journal, improving from the 75th position last year.
Positive Business Outlook
The company expressed optimism for continued net interest income expansion and organic growth across all business segments, supported by strong market conditions and strategic investments.
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DE:CBY 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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DE:CBY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | €55.60 | €53.62 | -3.57% |
| Jul 23, 2024 | €52.69 | €53.67 | +1.87% |
| Apr 23, 2024 | €40.74 | €40.55 | -0.48% |
| Jan 23, 2024 | €43.62 | €44.78 | +2.65% |
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 Community Bank System (DE:CBY) report earnings?
Community Bank System (DE:CBY) is schdueled to report earning on Jan 21, 2025, Before Open Not Confirmed.
What is Community Bank System (DE:CBY) earnings time?
Community Bank System (DE:CBY) earnings time is at Jan 21, 2025, Before Open 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 the P/E ratio of Community Bank System stock?
The P/E ratio of Community Bank System is N/A.
What is DE:CBY EPS forecast?
DE:CBY EPS forecast for the fiscal quarter 2024 (Q4) is €0.86.
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