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Blue Foundry (BLFY)
NASDAQ:BLFY
Earnings Data
Report Date
Apr 23, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.17Last Year’s EPS
-0.13Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 29, 2025
|% Change Since: 3.37%
|Next Earnings Date:Apr 23, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed view with highlights in loan and deposit growth, improvement in net interest margin, and a strong capital position. However, the company reported a net loss and challenges in achieving corporate goals. The sentiment is balanced, with positive strategic initiatives but financial challenges.Company Guidance
During Blue Foundry Bancorp's Fourth Quarter 2024 earnings call, the company reported a quarterly net loss of $2.7 million and a pre-provision net loss of $3 million. Despite the loss, loans increased by $32 million, mainly in commercial portfolios, and deposits grew by $25 million, with a notable 17% rise in non-interest bearing accounts. The company funded $59 million in loans with yields of approximately 7.5% and executed letters of intent for over $60 million in commercial credits at yields of 7.7%. Blue Foundry maintained tangible book value at $14.74 per share and repurchased 481,000 shares at an average price of $10.49. The bank remains well-capitalized with a tangible equity to tangible common assets ratio of 16.1% and has robust liquidity, with $408 million in untapped borrowing capacity and $211 million in available liquidity, which is 4.2 times larger than uninsured and uncollateralized deposits.Loan and Deposit Growth
Loans increased by $32 million, predominantly in commercial portfolios, and deposits grew $25 million, with a 17% increase in non-interest bearing accounts.
Improvement in Net Interest Margin
Net interest income increased by $386,000, leading to a seven basis point improvement in net interest margin.
Strong Capital and Liquidity Position
The bank is well-capitalized with tangible equity to tangible common assets at 16.1%, $408 million in untapped borrowing capacity, and $211 million in additional liquidity.
Share Repurchase Program
Repurchased 481,000 shares at an average price of $10.49, improving shareholder value. To-date, 6.9 million shares repurchased at an average cost of $10.16.
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BLFY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BLFY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 29, 2025 | $9.79 | $9.78 | -0.10% |
| Oct 23, 2024 | $10.04 | $9.91 | -1.29% |
| Jul 24, 2024 | $11.08 | $10.80 | -2.53% |
| Apr 24, 2024 | $8.59 | $8.68 | +1.05% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Blue Foundry (BLFY) report earnings?
Blue Foundry (BLFY) is schdueled to report earning on Apr 23, 2025, TBA Not Confirmed.
What is Blue Foundry (BLFY) earnings time?
Blue Foundry (BLFY) earnings time is at Apr 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BLFY EPS forecast?
BLFY EPS forecast for the fiscal quarter 2025 (Q1) is -0.17.
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