NASDAQ$LKFN
Lakeland Financial Corp · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Net income of $14.6 million was reported, impacted by a wire fraud loss, but core operational profitability improved.
Lakeland Financial Corporation reported a decrease in net income for the second quarter of 2023 compared to the same period in 2022, primarily due to a wire fraud loss. However, core operational profitability improved, and loan growth remained strong.
- Net income decreased by 43% compared to Q2 2022, totaling $14.6 million.
- Diluted earnings per share decreased by 43% to $0.57.
- Core operational profitability improved by 10% on a linked quarter basis and 4% annually.
- Loan growth of $437.6 million represented a 10% annual increase.
Headline financials
Revenue & EPS history
Lakeland Financial · Revenue · Quarterly
$60M
Forward guidance
The company expects the investment securities portfolio as a percentage of assets to decrease over time as the proceeds from pay downs, sales and maturities of these investment securities are used to fund loan portfolio growth and for other general liquidity purposes.
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
+0.7%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+2.5%
Avg return
30 days after
53%
35 / 66 earnings
Positive
+14.2%
Q4 2023
Best reaction
-8.1%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.5% | +2.8% | +0.9% | |
| Q4 2025 | +4.3% | +1.3% | +0.9% | |
| Q3 2025 | -5.2% | -7.8% | -5.0% | |
| Q2 2025 | -0.8% | +0.2% | +2.6% | |
| Q1 2025 | -2.0% | +2.0% | +7.4% | |
| Q4 2024 | +2.8% | +1.7% | -2.6% | |
| Q3 2024 | +2.3% | +2.5% | +15.5% | |
| Q2 2024 | +2.1% | -1.5% | -4.2% | |
| Q1 2024 | -4.6% | -6.2% | -2.5% | |
| Q4 2023 | +14.2% | +13.4% | +0.5% | |
| Q3 2023 | +5.7% | +4.1% | +18.2% | |
| Q2 2023 | +0.6% | +1.5% | +1.4% | |
| Q1 2023 | -8.1% | -9.7% | -10.2% | |
| Q4 2022 | -6.7% | -5.9% | -2.7% | |
| Q3 2022 | +6.4% | +8.0% | +1.4% | |
| Q2 2022 | +6.6% | +10.5% | +9.9% | |
| Q1 2022 | -3.1% | -4.7% | -5.8% | |
| Q4 2021 | -0.7% | -2.3% | -4.6% | |
| Q3 2021 | -4.8% | -8.0% | -5.0% | |
| Q2 2021 | +4.2% | +17.4% | +17.0% | |
| Q1 2021 | -3.2% | -5.7% | -12.1% | |
| Q4 2020 | +3.0% | -2.1% | +16.1% | |
| Q3 2020 | +2.6% | +3.9% | +10.2% | |
| Q2 2020 | -2.5% | -2.7% | +1.5% | |
| Q1 2020 | +12.3% | +8.2% | +19.5% | |
| Q4 2019 | +1.8% | -0.5% | -10.0% | |
| Q3 2019 | +2.0% | +3.1% | +3.4% | |
| Q2 2019 | +0.2% | +0.8% | -8.0% | |
| Q1 2019 | +1.6% | +1.7% | -1.8% | |
| Q4 2018 | +2.0% | +2.9% | +8.8% | |
| Q3 2018 | +7.2% | +9.5% | +15.3% | |
| Q2 2018 | +1.5% | -1.5% | +1.5% | |
| Q1 2018 | -1.3% | -3.0% | +0.7% | |
| Q4 2017 | -3.0% | -3.5% | -4.6% | |
| Q3 2017 | +0.8% | -2.1% | -1.2% | |
| Q2 2017 | +1.6% | +0.8% | -3.0% | |
| Q1 2017 | +7.1% | +2.5% | -1.8% | |
| Q4 2016 | +3.3% | -1.3% | +3.1% | |
| Q3 2016 | +5.8% | +4.6% | +24.8% | |
| Q2 2016 | +3.3% | +3.3% | +6.4% | |
| Q1 2016 | +1.9% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | -3.4% | — | — | |
| Q2 2015 | -1.0% | — | — | |
| Q1 2015 | +1.7% | — | — | |
| Q4 2014 | -4.6% | — | — | |
| Q3 2014 | +2.9% | — | — | |
| Q2 2014 | +0.3% | — | — | |
| Q1 2014 | -1.8% | — | — | |
| Q4 2013 | +4.9% | — | — | |
| Q3 2013 | +2.2% | — | — | |
| Q2 2013 | +5.1% | — | — | |
| Q1 2013 | +2.9% | — | — | |
| Q4 2012 | -2.1% | — | — | |
| Q3 2012 | +1.0% | — | — | |
| Q2 2012 | -1.7% | — | — | |
| Q1 2011 | -0.9% | — | — | |
| Q1 2012 | -0.7% | — | — | |
| Q4 2011 | -1.5% | — | — | |
| Q4 2009 | -1.5% | — | — | |
| Q3 2011 | -2.9% | — | — | |
| Q3 2010 | -2.9% | — | — | |
| Q2 2011 | -3.7% | — | — | |
| Q2 2010 | -3.7% | — | — | |
| Q4 2010 | -3.7% | — | — | |
| Q1 2010 | -2.0% | — | — |
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