Heritage Financial Q2 adjusted EPS beats estimates

Reuters
07-24
Heritage Financial <a href="https://laohu8.com/S/QTWO">Q2</a> adjusted EPS beats estimates

Overview

  • Heritage Financial Q2 net income $12.2 mln, down from Q, due to loss on sale of securities

  • Adjusted EPS beats estimates, reflecting stronger underlying performance

  • Net interest margin improved to 3.51%, up from 3.44% in Q1

Outlook

  • Heritage Financial to consider investment in new production teams when opportunities arise

Result Drivers

  • STRATEGIC REPOSITIONING - Losses from securities sales as part of balance sheet repositioning impacted earnings, per CEO Bryan McDonald

  • NET INTEREST MARGIN - Improved to 3.51% due to higher yields on loans and securities

  • DEPOSIT BALANCES - Seasonal decline in deposits but overall increase since year-end 2024

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Adjusted EPS

Beat

$0.53

$0.49 (6 Analysts)

Q2 EPS

$0.36

Q2 Net Income

$12.22 mln

Q2 Net Interest Margin

3.5%

Press Release: ID:nPn7lBltqa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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