Similar companies
Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 233M | 3.2% |
| Gross Profit | 74M | 8.5% |
| Cost of Revenue | 159M | 0.9% |
| Operating expense | 42M | 1% |
| Net Income | 67M | 6.4% |
| EBITDA | 228M | 2.6% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 27.1B | 1.1% |
| Total Liabilities | 23.7B | 1.5% |
| Total Equity | 3.34B | 1.3% |
| Shares Outstanding | 119M | 0% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 105M | 18.3% |
| Cash from investing | -125M | 1.8% |
| Cash from financing | -379M | 4505.6% |
EPS
Financial Highlights for United Community Banks in Q2 '24
United Community Banks reported a revenue of 233M, which is a 3.2% 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 74M, marking a 8.5% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 159M, a 0.9% 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 42M, showing a 1% 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 67M, showing a 6.4% 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 228M, showing a 2.6% 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. Higher operating expenses might indicate increased investments or potential inefficiencies.
