What caused BLFY's Q3 2024 EPS to decline?

The decline in BLFY's Q3 2024 EPS can be attributed to **increased expenses** and **lower revenue** compared to the same period last year. 1. **Expense Increase**: The net loss for Q3 2024 was $4.04 million, with a diluted EPS of -$0.19. This represents a significant increase in net loss and decrease in EPS compared to the previous year's net loss of $2.3 million and EPS of -$0.11 for the same quarter. |code|Ticker|Name|Date|Total Revenue|Net Income|Diluted EPS|market_code| |---|---|---|---|---|---|---|---| |BLFY|BLFY.O|Blue Foundry|2023 Q4|9768000|-2931000||185| |BLFY|BLFY.O|Blue Foundry|2024 Q1|9868000|-2839000|-0.13|185| |BLFY|BLFY.O|Blue Foundry|2024 Q2|1.0109E7|-2344000|-0.11|185| |BLFY|BLFY.O|Blue Foundry|2024 Q3|9474000|-4041000|-0.19|185| 2. **Revenue Decline**: The total revenue for Q3 2024 was $9.47 million, which is lower than the revenue of $10.25 million recorded in the same quarter of the previous year. This decline in revenue contributes to the overall decrease in profitability and EPS. 3. **Comparative Analysis**: Analysts had expected a loss of 21 cents per share for the quarter, but the company reported a loss of 11 cents per share. This indicates that while there was an improvement from the previous year, the performance was still below expectations. 4. **Improvement in Asset Quality**: Despite the decline in EPS and revenue, the company has shown improvements in asset quality, which could be a positive sign for future performance. In conclusion, the decline in BLFY's Q3 2024 EPS is primarily due to increased expenses and lower revenue compared to the same period last year, despite some improvements in asset quality.