NYSE$BBT
Beacon Financial Corp · Q2 2020 earnings
Q2 2020 earnings · · Investor relations
Briefing
Berkshire Hills Bancorp reported a net loss for the second quarter of 2020 due to non-cash charges related to goodwill impairment and the provision for credit losses, both stemming from the COVID-19 pandemic.
Berkshire Hills Bancorp reported a second quarter net loss of $549 million, or $10.93 per share, which included a $554 million non-cash goodwill impairment charge and a $30 million non-cash charge for projected credit losses. The company's core earnings, a non-GAAP financial measure including the $30 million credit loss provision, was a loss of $6 million, or $0.13 per share. Pre-tax pre-provision net revenue from continuing operations was ($529) million, or ($10.53) per share. The Company’s measure of Core PPNR was $0.47 per share.
- Recorded a net loss of $549 million, or $10.93 per share, due to non-cash charges.
- Recognized a $554 million non-cash goodwill impairment charge related to past bank acquisitions.
- Recorded a $30 million non-cash charge for projected credit losses related to the pandemic.
- Total assets held level at $13.1 billion.
Headline financials
Revenue & EPS history
Berkshire Hills Bancorp · Revenue · Quarterly
$95M
Revenue by segment
Berkshire Hills Bancorp · $2.6M total across 1 segment · Q4 2021
- Wealth management fees$2.6M—100.0%
Forward guidance
Berkshire will conduct a conference call/webcast at 10:00 a.m. eastern time on Thursday, July 30, 2020 to discuss the results for the quarter and provide guidance about expected future results.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2020
+0.0%
Avg return
Earnings day
-1.0%
Avg return
5 days after
+1.9%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+11.1%
Q3 2020
Best reaction
-19.5%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.3% | -4.3% | — | |
| Q4 2025 | +2.6% | +4.3% | +5.5% | |
| Q3 2025 | -0.4% | -1.3% | +2.9% | |
| Q2 2025 | -1.5% | -1.0% | +0.6% | |
| Q1 2025 | +3.2% | +3.4% | +2.2% | |
| Q4 2024 | +2.0% | +4.7% | -0.3% | |
| Q3 2024 | -1.9% | -0.1% | +13.6% | |
| Q2 2024 | +1.4% | +2.7% | -1.5% | |
| Q1 2024 | +5.7% | +8.4% | +14.3% | |
| Q4 2023 | +0.7% | +2.6% | -9.7% | |
| Q3 2023 | -5.2% | -6.4% | +7.4% | |
| Q2 2023 | -8.8% | -7.5% | -8.2% | |
| Q1 2023 | -6.0% | -11.9% | -12.2% | |
| Q4 2022 | +7.6% | +10.5% | +4.5% | |
| Q3 2022 | -1.2% | +1.3% | +5.7% | |
| Q2 2022 | +6.6% | +4.6% | +15.2% | |
| Q1 2022 | -6.0% | -8.9% | -12.4% | |
| Q4 2021 | -0.5% | +0.1% | +4.7% | |
| Q3 2021 | +3.4% | +1.1% | +3.0% | |
| Q2 2021 | +0.3% | +2.0% | -4.6% | |
| Q1 2021 | +3.9% | +2.3% | +23.7% | |
| Q4 2020 | -6.5% | -13.9% | +9.7% | |
| Q3 2020 | +11.1% | +8.9% | +47.3% | |
| Q2 2020 | -7.8% | -9.5% | -11.6% | |
| Q1 2020 | -19.5% | -26.8% | -26.5% | |
| Q4 2019 | -3.4% | -8.1% | -14.3% | |
| Q3 2019 | +2.6% | +4.4% | +5.2% | |
| Q2 2019 | +5.2% | +6.3% | -2.7% | |
| Q1 2019 | +0.3% | +1.8% | +0.5% | |
| Q4 2018 | -5.1% | -2.8% | +9.9% | |
| Q3 2018 | -6.6% | -11.9% | -11.4% | |
| Q2 2018 | +0.7% | +3.1% | +2.5% | |
| Q1 2018 | -0.1% | -0.5% | +2.6% | |
| Q4 2017 | -1.2% | -1.8% | -1.7% | |
| Q3 2017 | +1.7% | +0.4% | -5.6% | |
| Q2 2017 | +1.5% | +0.3% | -7.1% | |
| Q1 2017 | +6.2% | +7.3% | +5.4% | |
| Q4 2016 | -1.9% | -0.6% | +0.7% | |
| Q3 2016 | +3.9% | +3.9% | +19.7% | |
| Q2 2016 | -5.3% | -6.6% | -2.3% | |
| Q1 2016 | -1.9% | — | — | |
| Q4 2015 | +0.8% | — | — | |
| Q3 2015 | +2.7% | — | — | |
| Q2 2015 | +0.7% | — | — | |
| Q1 2015 | +0.9% | — | — | |
| Q4 2014 | -0.5% | — | — | |
| Q3 2014 | +4.9% | — | — | |
| Q2 2014 | +5.2% | — | — | |
| Q1 2014 | -2.7% | — | — | |
| Q4 2013 | -2.4% | — | — | |
| Q3 2013 | +1.9% | — | — | |
| Q2 2013 | -2.1% | — | — | |
| Q1 2013 | +0.8% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q3 2012 | +0.9% | — | — | |
| Q4 2011 | +0.2% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2011 | -1.6% | — | — | |
| Q1 2012 | +1.9% | — | — | |
| Q4 2010 | +2.3% | — | — | |
| Q3 2011 | -2.8% | — | — | |
| Q2 2011 | +1.3% | — | — | |
| Q2 2010 | +1.3% | — | — | |
| Q3 2010 | +1.5% | — | — | |
| Q1 2010 | +6.9% | — | — |
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