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Reported Q: Q3 2024 Rev YoY: +39.6% EPS YoY: +3.5% Move: -0.73%

Park National Corporation

PRK

$170.62 -0.73%

Exchange AMEX Sector Financial Services Industry Banks Regional

Q3 2024

Published: Nov 4, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for PRK

Reported

Report Date

Nov 4, 2024

Quarter Q3 2024

Revenue

170.34M

YoY: +39.6%

EPS

2.35

YoY: +3.5%

Market Move

-0.73%

Previous quarter: Q2 2024

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Earnings Highlights

Revenue of $170.34M up 39.6% year-over-year
EPS of $2.35 increased by 3.5% from previous year
Gross margin of 77.7%
Net income of 38.22M
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PRK

Company PRK

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Apr 27, 2026

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Executive Summary

Park National Corporation reported solid Q3 2024 results, with revenue of $170.338 million, up 39.6% year over year and 8.0% quarter over quarter, and net income of $38.217 million, translating to EPS of $2.37 (diluted $2.35). The company delivered a stable gross margin of about 77.7% and an operating margin near 27.4%, underscoring a resilient top line and disciplined cost management in an environment of rising operating expenses. The quarter also showcased a robust balance sheet and positive cash generation, with operating cash flow of $44.382 million and free cash flow of $42.294 million, contributing to a dividend-friendly capital structure.

Key Performance Indicators

Revenue

Increasing

170.34M

QoQ: 8.02% | YoY: 39.64%

Gross Profit

Increasing

132.33M

77.69% margin

QoQ: 7.13% | YoY: 8.48%

Operating Income

Decreasing

46.65M

QoQ: -7.49% | YoY: -10.89%

Net Income

Increasing

38.22M

QoQ: -2.93% | YoY: 3.52%

EPS

Increasing

2.37

QoQ: -2.87% | YoY: 3.49%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue: $170.338M; YoY +39.64%, QoQ +8.02% | Gross Profit: $132.329M; Gross Margin ~77.69%; YoY +8.48%, QoQ +7.13% | Operating Income: $46.648M; Operating Margin ~27.39%; YoY -10.89%, QoQ -7.49% | Net Income: $38.217M; Net Margin ~22.84%; YoY +3.52%, QoQ -2.93% | EPS (GAAP): $2.37; Diluted $2.35; YoY +3.49%, QoQ -2.87% | EBITDA: $49.624M; EBITDA Margin ~29.13% | Return on Assets (ROA): ~0.38%; Return on Equity (ROE): ~3.08%; Debt to capitalization: ~20.7%; Debt to assets: ~3.27%. Liquidity: Current ratio ~0.58; Quick ratio ~0.58; Cash ratio ~0.0764. Cash flow: Operating cash flow $44.382M; Capex $-2.088M; Free cash flow $42.294M; Dividends paid $17.175M; Net cash used by financing activities $-92.181M; Net change in cash $(59.782)M; Cash at end of period $201.683M.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	170.34M	39.64%	8.02%
Gross Profit	132.33M	8.48%	7.13%
Operating Income	46.65M	-10.89%	-7.49%
Net Income	38.22M	3.52%	-2.93%
EPS	2.37	3.49%	-2.87%

Key Financial Ratios

Gross Profit Margin

Weak

1.00%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Excellent

33.90%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Excellent

27.80%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Weak

0.39%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

3.08%

Return on equity suggests inefficient capital allocation

Current Ratio

Concern

0.58

Current ratio below safe levels, potential liquidity risk

Debt to Equity

Conservative

0.26

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

Fair Value

17.75x

P/E ratio in line with market averages

Price to Book

Fair Value

2.19x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2026	154.78	2.39	-1.9%	View
Q1 2025	157.95	2.60	+3.1%	View
Q4 2024	164.68	2.38	+17.0%	View
Q3 2024	170.34	2.35	+39.6%	View
Q2 2024	157.70	2.42	+35.3%	View

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Park National Corporation (PRK) Q3 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Historical Earnings Comparison

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