NASDAQ$CCNE

CNB Financial Corporation · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

CNB Financial Corporation's earnings for Q2 2023 were announced, revealing growth in total deposits, loans, and assets.

CNB Financial Corporation reported net income available to common shareholders of $12.8 million, or $0.61 per diluted share, for the three months ended June 30, 2023. Total deposits reached $4.9 billion, reflecting an increase of $178.9 million from March 31, 2023, and loans totaled $4.3 billion, representing an increase of $166.1 million from March 31, 2023.

  • Net income available to common shareholders was $12.8 million, or $0.61 per diluted share.
  • Total deposits increased by $178.9 million, reaching $4.9 billion.
  • Loans increased by $166.1 million, totaling $4.3 billion.
  • Total nonperforming assets were $24.1 million, or 0.43% of total assets.

Headline financials

Total Revenue

$55.6M

Previous: $54.4M+2.0%
EPS (adj)

$0.61

Previous: $0.85-28.2%
Efficiency Ratio

64.8%

Previous: 59.5%+8.9%
Net Interest Margin

3.6%

Previous: 3.7%-2.9%
Capital Expenditures

-$7.16M

Previous: -$3.99M-79.4%
Free Cash Flow

$6.67M

Previous: $11.4M-41.7%
Net Income

$13.8M

Previous: $15.4M-10.4%
Operating Income

$20.9M

Previous: $42.7M-51.1%
Gross Profit

$55.6M

Previous: $54.4M+2.0%
Cash & Equivalents

$125M

Previous: $284M-56.0%
Total Assets

$5.66B

Previous: $5.3B+6.9%
Stock-Based Comp

$345K

Previous: $256K+34.8%

Revenue & EPS history

CNB Financial · Revenue · Quarterly

$55.6M

Q2 2023+2%vs Q2 2022
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Forward guidance

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to CNB’s financial condition, liquidity, results of operations, future performance and business.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2023

Historical avgQ2 2023

-0.1%

Avg return

Earnings day

+1.7%

Avg return

5 days after

+3.6%

Avg return

30 days after

45%

30 / 66 earnings

Positive

+9.7%

Q2 2020

Best reaction

-10.5%

Q2 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%-2.6%-0.6%
Q4 2025-0.8%+4.5%+3.5%
Q3 2025-0.7%+0.3%+6.0%
Q2 2025-0.5%-0.8%+2.4%
Q1 2025+0.1%+0.4%-0.7%
Q4 2024+0.9%-1.5%-1.8%
Q3 2024+2.5%+1.9%+11.0%
Q2 2024+0.3%+8.1%-3.3%
Q1 2024-4.6%-3.1%+4.7%
Q4 2023+2.4%+3.7%-8.0%
Q3 2023+1.4%+1.9%+18.3%
Q2 2023-0.5%-0.7%-3.6%
Q1 2023-1.8%-0.4%-1.9%
Q4 2022-0.8%-1.5%+2.9%
Q3 2022-1.1%-4.5%+2.2%
Q2 2022+4.1%+3.2%+17.6%
Q1 2022+5.2%+4.9%-2.7%
Q4 2021+2.4%+1.1%+0.1%
Q3 2021+5.1%+5.8%+14.9%
Q2 2021+2.0%+2.6%+11.2%
Q1 2021-3.5%+2.5%+0.2%
Q4 2020-8.0%-6.4%+7.2%
Q3 2020+6.3%+21.9%+22.8%
Q2 2020+9.7%+8.9%+6.2%
Q1 2020-4.1%-2.3%-2.7%
Q4 2019-0.6%-4.4%-8.2%
Q3 2019+0.8%+11.9%+10.8%
Q2 2019-0.3%+5.3%+1.8%
Q1 2019-1.4%+0.1%-0.5%
Q4 2018+2.8%+2.9%+13.3%
Q3 2018-1.9%-8.6%-5.3%
Q2 2018+0.7%+2.7%+2.2%
Q1 2018-0.1%+0.1%+3.0%
Q4 2017-4.5%-1.4%+3.0%
Q3 2017+1.1%+2.3%+0.4%
Q2 2017+3.5%+5.4%-2.7%
Q1 2017+6.8%+9.2%-3.2%
Q4 2016-5.2%-6.8%-2.9%
Q3 2016-0.1%+2.2%+21.1%
Q2 2016-1.1%-1.1%+4.4%
Q1 2016+0.1%
Q4 2015-1.4%
Q3 2015+0.0%
Q2 2015-1.9%
Q1 2015+0.4%
Q4 2014-0.1%
Q3 2014-1.7%
Q2 2014+3.9%
Q1 2014+1.0%
Q4 2013-1.8%
Q3 2013+7.2%
Q2 2013+1.1%
Q1 2013-3.8%
Q4 2011+0.2%
Q4 2009+0.2%
Q4 2010+0.2%
Q4 2012-1.4%
Q3 2012-0.3%
Q2 2012-1.8%
Q1 2011-0.7%
Q1 2012+3.7%
Q3 2010-3.7%
Q3 2011-3.7%
Q2 2011-10.5%
Q2 2010-10.5%
Q1 2010+3.5%

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