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Income Statement (USD)
Q1 '24 | QoQ | |
---|---|---|
Revenue | 226M | 36.3% |
Gross Profit | 68M | 2054.4% |
Cost of Revenue | 158M | 6.7% |
Operating expense | 41M | 37.3% |
Net Income | 63M | 344.5% |
EBITDA | 222M | 31.2% |
Balance Sheet (USD)
Q1 '24 | QoQ | |
---|---|---|
Total Assets | 27.4B | 0.2% |
Total Liabilities | 24.1B | 0.1% |
Total Equity | 3.3B | 1.2% |
Shares Outstanding | 119M | 0.1% |
Cash Flow (USD)
Q1 '24 | QoQ | |
---|---|---|
Cash from operations | 89M | 307.8% |
Cash from investing | -123M | 23.9% |
Cash from financing | -8.2M | 102.1% |
EPS
Financial Highlights for United Community Banks in Q1 '24
United Community Banks reported a revenue of 226M, which is a 36.3% 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 68M, marking a 2054.4% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 158M, a -6.7% 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 41M, showing a -37.3% 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 63M, showing a 344.5% 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 222M, showing a 31.2% 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 United Community Banks with growth in revenue, gross profit, and net income.