PFS - Provident Financial reports mixed Q2 earnings; raises FY23 outlook

2023-07-28 08:49:17 ET

• Provident Financial press release ( NYSE: PFS ): Q2 GAAP EPS of $0.43 beats by $0.28 .
• Revenue of $118.5M (-1.6% Y/Y) misses by $25.06M .
• Tangible book value per share increased $0.02 to $15.66 at June 30, 2023, compared to the trailing quarter.
• For the quarter ended June 30, 2023, the company recorded a $10.4 million provision for credit losses, compared with a provision for credit losses of $6.0 million for the quarter ended March 31, 2023.
• For the three months ended June 30, 2023, the company's income tax expense was $11.6 million with an effective tax rate of 26.7%, compared with $14.3 million with an effective tax rate of 26.8% for the three months ended June 30, 2022.

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