Community Trust Bancorp (CTBI) Q2 Earnings and Revenues Top Estimates

Core Insights - Community Trust Bancorp reported an earnings surprise of 4.81% for the recent quarter, with actual earnings of $1.04 per share compared to an expected $0.98 per share, marking a surprise of 6.12% from the previous quarter [1] - The company posted revenues of $61.68 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 5.16% and showing an increase from $57.84 million in the same quarter last year [2] - Community Trust Bancorp's shares have increased by approximately 10.2% since the beginning of the year, while the S&P 500 has gained 18.8% [3] Earnings Performance - The company achieved quarterly earnings of $1.09 per share, surpassing the Zacks Consensus Estimate of $1.04 per share, and compared to earnings of $1.08 per share a year ago [7] - Over the last four quarters, Community Trust Bancorp has exceeded consensus EPS estimates three times [8] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.06 on revenues of $59.75 million, and for the current fiscal year, it is $4.18 on revenues of $237.55 million [11] - The estimate revisions trend for Community Trust Bancorp is currently unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [13] Industry Context - The Zacks Industry Rank for Banks - Southeast, to which Community Trust Bancorp belongs, is in the bottom 26% of over 250 Zacks industries, suggesting that the industry outlook may negatively impact stock performance [5]