OceanFirst: Fourth Quarter Earnings Overview

OceanFirst Financial Corp. Announces Fourth-Quarter Results

OceanFirst Financial Corp., headquartered in Red Bank, New Jersey, disclosed its financial results for the fourth quarter on Thursday, reporting a net profit of $13.1 million.

The company achieved earnings of $0.23 per share, while adjusted earnings—excluding one-time expenses—came in at $0.41 per share.

These adjusted earnings surpassed the expectations of Wall Street analysts, who, according to a Zacks Investment Research survey of three analysts, had anticipated $0.39 per share.

During the quarter, OceanFirst Bank's parent company recorded total revenue of $181.1 million, with adjusted revenue amounting to $104.7 million.

For the full year, OceanFirst Financial Corp. reported a total profit of $71 million, or $1.17 per share, on revenues of $404.9 million.