Core Viewpoint - Citizens Financial Services reported quarterly earnings of $1.30 per share, missing the Zacks Consensus Estimate of $1.33 per share, and down from $1.53 per share a year ago, indicating a negative earnings surprise of -2.26% [1][2] Financial Performance - The company posted revenues of $24.64 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 3.01%, compared to $20.2 million in revenues a year ago [2] - Over the last four quarters, the company has surpassed consensus EPS estimates only once and has topped consensus revenue estimates two times [2] Stock Performance - Citizens Financial Services shares have declined approximately 16.8% since the beginning of the year, contrasting with the S&P 500's gain of 14.5% [3] Future Outlook - The company's earnings outlook will be crucial for investors, including current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $1.36 on revenues of $26.7 million, and for the current fiscal year, it is $5.50 on revenues of $103.8 million [7] Industry Context - The Zacks Industry Rank for Banks - Northeast is currently in the top 13% of over 250 Zacks industries, suggesting a favorable outlook for the sector [8] - Another bank in the same industry, Citizens & Northern, is expected to report quarterly earnings of $0.37 per share, reflecting a year-over-year change of -5.1% [9]
Citizens Financial Services (CZFS) Misses Q2 Earnings and Revenue Estimates