Olympia Financial Group (OLY) Q2 2024 earnings summary

Executive summary

• H1 2024 net earnings and comprehensive income rose 4% YoY to $11.63M; Q2 fell 1% to $5.89M.

• H1 revenue increased 7% YoY to $52.08M, while Q2 revenue rose 5% to $26.25M, driven mainly by higher trust income.

Financial highlights

• H1 service revenue rose 3% YoY to $24.42M; Q2 increased 2% to $12.19M, mainly on higher monthly and transaction fees.

• H1 trust, interest, and other income increased 11% YoY to $27.66M; Q2 rose 7% to $14.06M, reflecting higher rates on trust fund placements.

• Direct and administrative expenses, excluding depreciation and amortization, rose 8% YoY to $34.56M in H1 and 10% to $17.57M in Q2.

Outlook and guidance

• Forward-looking statements include earnings expectations, fee income, expense levels, and monthly dividend payments; outcomes depend on management assumptions and future conditions.