Eagle Bancorp (EGBN) Q1 FY2024 earnings: revenue $78 million, down 0.6% on the year

Eagle Bancorp Inc. (EGBN) reported revenue of $78 million for Q1 FY2024, the quarter ended 31 March 2024, down 0.6% on the same quarter a year earlier. Net income was -$338,000, and diluted earnings per share $-0.01. The figures are the company's own, from the 10-Q it filed with the SEC on 3 May 2024.

Revenue$78 milliondown 0.6%

Net income-$338,000

Diluted EPS$-0.01

QuarterQ1 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

Line	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Revenue	78.3	75.9	n/a	n/a
Interest expense	101	94.4	n/a	n/a
Pre-tax income	2.7	24.9	n/a	n/a
Income tax	3.0	4.7	n/a	n/a
Effective tax rate	112.7%	18.7%	n/a
Net income	-0.3	20.2	n/a	n/a
Net margin	-0.4%	26.7%	n/a
Diluted EPS	-$0.01	$0.67	n/a	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. 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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Operating cash flow	2.8	56.7	n/a	n/a
Capital expenditure	0.1	n/a	n/a	n/a
Free cash flow	2.8	n/a	n/a	n/a
Cash from investing	5.9	-14.6	n/a	n/a
Cash from financing	-13.5	423	n/a	n/a
Depreciation and amortisation	0.8	0.8	n/a	n/a
Share-based compensation	2.4	2.4	n/a	n/a
Buybacks	0.0	-0.0	n/a	n/a
Dividends paid	13.5	14.2	n/a	n/a
Dividend per share	$0.45	n/a	n/a	n/a
Diluted shares, weighted	30m	30m	n/a	n/a
Shares outstanding at period end	30m	30m	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	Q1 FY2024	Q4 FY2023	A year earlier	Change on the year
Shareholders' equity	1,259	1,274	n/a	n/a
Deposits	8,501	8,808	n/a	n/a
Debt	1,707	1,370	n/a	n/a
Other liabilities	145	212	n/a	n/a
Total liabilities and equity	11,613	11,665	n/a	n/a
Fixed assets	9.5	10.2	n/a	n/a
Goodwill	n/a	104	n/a	n/a
Intangible assets	n/a	0.8	n/a	n/a
Securities held for sale or to maturity	2,448	2,524	n/a	n/a
Cash and equivalents	718	723	n/a	n/a
Other assets	8,438	8,303	n/a	n/a
Total assets	11,613	11,665	n/a	n/a

Questions

What was Eagle Bancorp's revenue in Q1 FY2024?

Eagle Bancorp (EGBN) reported revenue of $78 million for Q1 FY2024, the quarter ended 31 March 2024, down 0.6% on the same quarter a year earlier.

How much did Eagle Bancorp earn in Q1 FY2024?

Net loss for Q1 FY2024 was $338,000, and the diluted loss per share $0.01.

When did Eagle Bancorp report Q1 FY2024 results?

Eagle Bancorp filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 3 May 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	77.1	75.9	78.3	76.7	78.8	74.9	73.9	74.2	70.7	80.5	76.4	73.1
Interest expense	90.4	94.4	101	98.4	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	34.6	24.9	2.7	-79.4	26.7	19.8	2.4	-109	-84.4	-5.0	16.1	7.6
Tax rate	21%	19%	113%	n/a	18%	23%	32%	n/a	n/a	n/a	8%	9%
Net income	27.4	20.2	-0.3	-83.8	21.8	15.3	1.7	-69.8	-67.5	-2.4	14.7	6.9
Net margin	36%	27%	-0%	-109%	28%	20%	2%	-94%	-96%	-3%	19%	9%
Diluted EPS	$0.91	$0.67	-$0.01	-$2.78	$0.72	$0.50	$0.06	-$2.30	-$2.22	-$0.09	$0.48	$0.23
Operating cash flow	47.4	56.7	2.8	55.2	55.6	10.1	43.2	-28.6	19.8	-5.9	14.9	32.4
Capital expenditure	n/a	n/a	0.1	n/a	0.2	0.1	0.1	0.7	4.0	2.9	0.6	0.9
Free cash flow	n/a	n/a	2.8	n/a	55.4	9.9	43.0	-29.3	15.8	-8.8	14.3	31.5
Buybacks	-0.0	-0.0	0.0	0.0	0.0	0.0	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	13.5	14.2	13.5	13.6	13.6	5.0	5.0	5.0	5.0	0.3	0.3	0.3
Shares outstanding	30m	30m	30m	30m	30m	30m	30m	30m	30m	30m	30m	30m
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. 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 31 March 2024, filed 3 May 2024, accession 0001050441-24-000079: the filing on EDGAR. All of Eagle Bancorp Inc.'s filings: EDGAR company page.

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