Blue Foundry Bancorp (BLFY) Reports Q2 Loss, Tops Revenue Estimates

Company Performance - Blue Foundry Bancorp reported a quarterly loss of $0.11 per share, which was better than the Zacks Consensus Estimate of a loss of $0.19, but worse than a loss of $0.08 per share a year ago [5] - The company posted revenues of $10.11 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 4.54%, but down from $11.29 million in the same quarter last year [2] - The company has surpassed consensus EPS estimates four times over the last four quarters [6] Stock Performance - Blue Foundry Bancorp shares have increased approximately 14.6% since the beginning of the year, compared to the S&P 500's gain of 16.5% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating it is expected to perform in line with the market in the near future [8] Industry Outlook - The Banks - Northeast industry, to which Blue Foundry Bancorp belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable outlook [9] - The performance of Blue Foundry Bancorp's stock may be influenced by the overall industry outlook and trends in earnings estimate revisions [9][11]