QCR Holdings (QCRH) Q2 Earnings and Revenues Surpass Estimates

Core Insights - QCR Holdings reported an earnings surprise of 24.46%, with actual earnings of $1.59 per share compared to an expected $1.32 per share, marking a 20.45% surprise from the previous quarter [1] - The company posted revenues of $87.05 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 5.90% and showing a year-over-year increase from $85.73 million [2] - QCR Holdings shares have increased approximately 23.3% year-to-date, outperforming the S&P 500's gain of 16.5% [3] Earnings Performance - The latest quarterly earnings for QCR Holdings were $1.73 per share, surpassing the Zacks Consensus Estimate of $1.39 per share and showing an increase from $1.69 per share a year ago [9] - The company has consistently exceeded consensus EPS estimates, achieving this for four consecutive quarters [10] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.38 on revenues of $85.7 million, while the estimate for the current fiscal year is $5.78 on revenues of $330.65 million [5] - The estimate revisions trend for QCR Holdings is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [13] Industry Context - The Banks - Midwest industry, to which QCR Holdings belongs, is currently ranked in the top 42% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [14]