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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 99M | 3.7% |
| Gross Profit | 31M | 23.3% |
| Cost of Revenue | 68M | 3.3% |
| Operating expense | 19M | 37.9% |
| Net Income | 23M | 12% |
| EBITDA | 18M | 85% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 14B | 0.9% |
| Total Liabilities | 12.4B | 0.9% |
| Total Equity | 1.6B | 0.6% |
| Shares Outstanding | 45M | 0.4% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 14M | 91.4% |
| Cash from investing | -117M | 2233% |
| Cash from financing | 100M | 172.8% |
EPS
Financial Highlights for Sandy Spring Bank in Q2 '24
Sandy Spring Bank reported a revenue of 99M, which is a 3.7% 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 23.3% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 68M, a -3.3% 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 19M, showing a -37.9% 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 23M, showing a 12% 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 18M, showing a -85% 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 Sandy Spring Bank with growth in revenue, gross profit, and net income. A decline in EBITDA signals potential operational challenges or increased costs.
