ESSA Bancorp(US:ESSA) ZACKS·2024-07-24 23:00Company Performance - Essa Bancorp reported revenues of $16.28 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.82% and down from $17.18 million year-over-year [1] - The company posted quarterly earnings of $0.41 per share, which was below the Zacks Consensus Estimate of $0.45 per share and compared to earnings of $0.45 per share a year ago [8] - The earnings surprise for the quarter was -8.89%, while a quarter ago, the bank had a positive surprise of 37.14% with actual earnings of $0.48 per share against an expectation of $0.35 [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.42 on revenues of $17.07 million, and for the current fiscal year, it is $1.80 on revenues of $68.04 million [12] - The estimate revisions trend for Essa Bancorp is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [5] - Over the last four quarters, the company has surpassed consensus EPS estimates two times [9] Industry Context - The Financial - Savings and Loan industry, to which Essa Bancorp belongs, is currently in the bottom 27% of over 250 Zacks industries, which may impact stock performance [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, suggesting that the industry outlook can significantly affect Essa Bancorp's stock [11]