City Holding (CHCO) Q2 FY2024 earnings: revenue $74 million, down 3.0% on the year

City Holding Co. (CHCO) reported revenue of $74 million for Q2 FY2024, the quarter ended 30 June 2024, down 3.0% on the same quarter a year earlier. Net income was $29 million, down 11.1% on the year, and diluted earnings per share $1.96. The figures are the company's own, from the 10-Q it filed with the SEC on 7 August 2024.

Revenue$74 milliondown 3.0%

Net income$29 milliondown 11.1%

Diluted EPS$1.96

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	73.5	72.4	n/a	n/a
Interest expense	21.4	19.1	n/a	n/a
Pre-tax income	36.3	36.7	n/a	n/a
Income tax	7.1	7.1	n/a	n/a
Effective tax rate	19.7%	19.5%	n/a
Net income	29.1	29.5	n/a	n/a
Net margin	39.6%	40.8%	n/a
Diluted EPS	$1.96	$1.97	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	28.3	32.2	n/a	n/a
Capital expenditure	0.5	0.6	n/a	n/a
Free cash flow	27.8	31.6	n/a	n/a
Cash from investing	-133	3.0	n/a	n/a
Cash from financing	4.3	127	n/a	n/a
Share-based compensation	0.7	1.1	n/a	n/a
Buybacks	14.2	3.7	n/a	n/a
Dividends paid	10.8	10.6	n/a	n/a
Dividend per share	$0.72	$0.72	n/a	n/a
Diluted shares, weighted	15m	15m	n/a	n/a
Shares outstanding at period end	15m	15m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	687	682	n/a	n/a
Deposits	5,067	5,056	n/a	n/a
Debt	150	150	n/a	n/a
Other liabilities	437	426	n/a	n/a
Total liabilities and equity	6,341	6,314	n/a	n/a
Fixed assets	71.0	71.6	n/a	n/a
Securities held for sale or to maturity	1,457	1,348	n/a	n/a
Cash and equivalents	218	319	n/a	n/a
Other assets	4,596	4,576	n/a	n/a
Total assets	6,341	6,314	n/a	n/a

Questions

What was City Holding's revenue in Q2 FY2024?

City Holding (CHCO) reported revenue of $74 million for Q2 FY2024, the quarter ended 30 June 2024, down 3.0% on the same quarter a year earlier.

How much did City Holding earn in Q2 FY2024?

Net income for Q2 FY2024 was $29 million, down 11.1% on the year, and diluted earnings per share $1.96.

When did City Holding report Q2 FY2024 results?

City Holding filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 7 August 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	73.0	68.9	72.4	73.5	76.0	71.7	74.6	78.4	81.3	80.2	79.2	81.5
Interest expense	14.6	17.2	19.1	21.4	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	37.8	34.1	36.7	36.3	37.1	34.5	36.9	41.2	43.8	39.5	39.3	41.3
Tax rate	21%	19%	19%	20%	20%	17%	18%	19%	20%	20%	19%	19%
Net income	29.8	27.5	29.5	29.1	29.8	28.7	30.3	33.4	35.2	31.6	31.7	33.3
Net margin	41%	40%	41%	40%	39%	40%	41%	43%	43%	39%	40%	41%
Diluted EPS	$1.98	$1.84	$1.97	$1.96	$2.02	$1.94	$2.06	$2.29	$2.41	$2.18	$2.20	$2.35
Operating cash flow	36.7	33.5	32.2	28.3	37.6	33.8	31.5	28.2	37.3	34.3	38.0	32.6
Capital expenditure	0.7	0.6	0.6	0.5	0.6	1.0	0.3	0.4	1.5	0.7	0.7	0.8
Free cash flow	36.1	33.0	31.6	27.8	37.0	32.8	31.3	27.8	35.8	33.6	37.3	31.8
Buybacks	9.8	6.3	3.7	14.2	0.0	0.0	9.5	19.4	0.0	16.9	30.9	7.3
Dividends paid	9.8	10.6	10.6	10.8	10.5	11.6	11.6	11.6	11.5	12.6	14.8	10.1
Shares outstanding	15m	15m	15m	15m	15m	15m	14m	14m	14m	14m	14m	14m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 7 August 2024, accession 0000726854-24-000168: the filing on EDGAR. All of City Holding Co.'s filings: EDGAR company page.

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