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LINKBANCORP, Inc. (LNKB) Q2 Earnings and Revenues Lag Estimates
LINKBANCORPLINKBANCORP(US:LNKB) ZACKSยท2024-07-29 22:56

Company Performance - LINKBANCORP, Inc. reported quarterly earnings of $0.17 per share, missing the Zacks Consensus Estimate of $0.18 per share, compared to earnings of $0.10 per share a year ago [8] - The company posted revenues of $26.34 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.05%, and this is an increase from year-ago revenues of $8.98 million [2] - LINKBANCORP, Inc. has not been able to beat consensus revenue estimates over the last four quarters [2] Stock Performance - LINKBANCORP, Inc. shares have lost about 7.3% since the beginning of the year, while the S&P 500 has gained 14.5% [3] - The company has surpassed consensus EPS estimates two times over the last four quarters [9] Future Outlook - The current consensus EPS estimate for the coming quarter is $0.19 on revenues of $28.23 million, and for the current fiscal year, it is $0.75 on revenues of $110.99 million [5] - The estimate revisions trend for LINKBANCORP, Inc. is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [12] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call [10] Industry Context - The Zacks Industry Rank for Banks - Northeast is currently in the top 16% of over 250 Zacks industries, suggesting a favorable outlook for the industry [13] - Citizens & Northern (CZNC), another stock in the same industry, is expected to report revenues of $26.9 million, down 0.4% from the year-ago quarter [7]