Homestreet | 10-Q: FY2025 Q2 EPS Misses Estimate at USD -0.23

EPS: As of FY2025 Q2, the actual value is USD -0.23, missing the estimate of USD 0.0367.

EBIT: As of FY2025 Q2, the actual value is USD -4.781 M.

Segment Revenue

• Interest Income: Total interest income for the six months ended June 30, 2025, was $168,807 thousand, compared to $203,664 thousand for the same period in 2024.

Operational Metrics

• Net Interest Income: For the six months ended June 30, 2025, net interest income was $67,091 thousand, compared to $61,852 thousand for the same period in 2024.
• Net Income (Loss): The net loss for the six months ended June 30, 2025, was $8,877 thousand, compared to a net loss of $13,735 thousand for the same period in 2024.

Cash Flow

• Net Cash Used in Operating Activities: For the six months ended June 30, 2025, net cash used in operating activities was $32,290 thousand, compared to $29,596 thousand for the same period in 2024.
• Net Cash Provided by Investing Activities: For the six months ended June 30, 2025, net cash provided by investing activities was $342,619 thousand, compared to $123,044 thousand for the same period in 2024.

Unique Metrics

• Allowance for Credit Losses (ACL): The ACL for loans was $45,806 thousand as of June 30, 2025, compared to $38,743 thousand as of December 31, 2024.

Future Outlook and Strategy

• Merger Agreement: On March 28, 2025, HomeStreet, Inc. entered into a definitive merger agreement with Mechanics Bank, expected to close in the third quarter of 2025.