How does UNTY's earnings trend compare to forecasts?

Unity Bancorp Inc. (UNTY) has reported its fiscal 2024 Q4 earnings, with net income of $41.45 million and total revenue of $107.08 million. Here's how UNTY's earnings trend compares to forecasts: 1. **Earnings Performance**: - UNTY's net income for the quarter was $41.45 million. - This represents a 4.4% increase from the previous year. - The company's earnings per diluted share (EPS) were $4.06, which is a 7.0% increase year-over-year. 2. **Revenue Analysis**: - Total revenue for the quarter was $107.08 million. - This reflects a growth in commercial loan activity and an increase in time deposits. 3. **Forecast Comparisons**: - Analysts had estimated UNTY's Q4 net income at $41.5 million, which was slightly below the reported figure. - The EPS of $4.06 was slightly higher than the consensus estimate of $4.00. - UNTY surpassed revenue estimates, with reported revenue exceeding forecasts by approximately 2.5%. |code|Ticker|Name|Date|Total Revenue (FY)|Net Income (FY)|market_code| |---|---|---|---|---|---|---| |UNTY|UNTY.O|Unity Bancorp|2024|1.0708E8|4.145E7|185| 4. **Trends and Outlook**: - UNTY has demonstrated strong earnings growth, with a record net income of $11.5 million in Q4 2024, a 5.5% increase from the previous quarter. - The net interest margin expanded by 36 basis points in the second half of 2024, indicating improved profitability. - UNTY's asset base grew to $2.7 billion, with an increase in gross loans and total deposits. 5. **Market Reaction**: - The market responded positively to the earnings report, with a slight increase in the stock price following the release of the earnings news. - Analysts have raised stock targets at Piper Sandler, reflecting confidence in UNTY's robust Q4 performance. In conclusion, UNTY's earnings trend has outperformed forecasts, with strong net income growth and revenue exceeding expectations. The company's financial metrics indicate a solid operational performance, supported by commercial loan growth and increased time deposits.