New York Community Bancorp (NYCB) Reports Q2 Loss, Misses Revenue Estimates

Company Performance - New York Community Bancorp reported a quarterly loss of $1.05 per share, significantly worse than the Zacks Consensus Estimate of a loss of $0.38, and compared to earnings of $1.41 per share a year ago [8] - The company posted revenues of $671 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4.33%, and down from $1.2 billion in the same quarter last year [2] - The company has surpassed consensus EPS estimates only once over the last four quarters [9] Stock Performance - New York Community Bancorp shares have declined approximately 64.4% since the beginning of the year, while the S&P 500 has gained 13.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.20 on revenues of $703.88 million, and for the current fiscal year, it is -$1.40 on revenues of $2.79 billion [5] Industry Context - The Financial - Savings and Loan industry, to which New York Community Bancorp belongs, is currently ranked in the bottom 32% of over 250 Zacks industries, indicating a challenging environment [13] - The performance of New York Community Bancorp's stock may be influenced by the overall outlook for the industry [13]