Provident Financial Services | 10-Q: FY2025 Q1 Revenue: USD 305.35 M

LB filings
2025.05.08 16:42

Revenue: As of FY2025 Q1, the actual value is USD 305.35 M.

EPS: As of FY2025 Q1, the actual value is USD 0.49, beating the estimate of USD 0.472.

EBIT: As of FY2025 Q1, the actual value is USD 91.85 M.

Segment Revenue

  • Interest and Dividend Income: Total interest and dividend income for the three months ended March 31, 2025, was $305,346,000, compared to $163,859,000 for the same period in 2024.

Operational Metrics

  • Net Income: Net income for the three months ended March 31, 2025, was $64,028,000, compared to $32,082,000 for the same period in 2024.
  • Non-Interest Income: Total non-interest income for the three months ended March 31, 2025, was $27,030,000, compared to $20,807,000 for the same period in 2024.
  • Non-Interest Expense: Total non-interest expense for the three months ended March 31, 2025, was $116,267,000, compared to $71,827,000 for the same period in 2024.

Cash Flow

  • Net Cash Provided by Operating Activities: For the three months ended March 31, 2025, net cash provided by operating activities was $88,515,000, compared to $41,409,000 for the same period in 2024.

Unique Metrics

  • Allowance for Credit Losses: The allowance for credit losses as of March 31, 2025, was $191,770,000, compared to $193,432,000 as of December 31, 2024.

Future Outlook and Strategy

  • Core Business Focus: The company aims to manage interest rate risk through the use of interest rate swaps and other hedging strategies, with a focus on maintaining stability in interest expense.
  • Non-Core Business: The company completed its merger with Lakeland Bancorp, Inc. on May 16, 2024, with a total consideration of $876.8 million, and continues to integrate the acquired assets and liabilities.
Source: LB filings The copyright of this article belongs to the original author/organization.
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