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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 109M | 95.6% |
| Gross Profit | 31M | 218% |
| Cost of Revenue | 77M | 5.6% |
| Operating expense | 13M | 35.8% |
| Net Income | 24M | 219% |
| EBITDA | 100M | 146.1% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 12.2B | 0.6% |
| Total Liabilities | 11.2B | 0.6% |
| Total Equity | 1.01B | 0.3% |
| Shares Outstanding | 43M | 1% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 35M | 406.5% |
| Cash from investing | -180M | 161.8% |
| Cash from financing | 52M | 116.9% |
EPS
Financial Highlights for Berkshire Hills Bancorp in Q2 '24
Berkshire Hills Bancorp reported a revenue of 109M, which is a 95.6% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 31M, marking a 218% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 77M, a -5.6% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 13M, showing a -35.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was 24M, showing a 219% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 100M, showing a 146.1% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
It was a positive quarter for Berkshire Hills Bancorp with growth in revenue, gross profit, and net income.
