Filing Flows › Choiceone Financial Services (COFS) › Q4 2024
Choiceone Financial Services (COFS) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 11, 2025
Choiceone Financial Services (COFS) reported revenue of $36.0M for the fourth quarter 2024 (Q4 2024), +75% from a year earlier and -1% from the quarter before. Operating margin was 24.4%, net earnings $7.2M (19.9% of revenue).
Choiceone Financial Services, Q4 2024: revenue $36.0M (+75% year over year), operating margin 24.4%, net earnings $7.2M, operating cash flow $23.4M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $36.0M | -1% | +75% |
| Operating profit | $8.8M | -5% | +36% |
| Net earnings | $7.2M | -3% | +35% |
| Operating cash flow | $23.4M | — | — |
| Free cash flow | $22.7M | — | — |
What changed
Revenue was $36.0M in Q4 2024, up 75% year over year and down 1% from the previous quarter.
Operating profit was $8.8M, a 24.4% margin (down 6.9 points year over year). Of the extra revenue versus a year earlier, 15% reached operating profit, below the 31% margin then. Total costs grew 92% against revenue growth of 75%. Net earnings were $7.2M, up 35% year over year. The effective tax rate was 18.6%.
Operating cash flow was $23.4M, 327% of net earnings. Non-cash charges added back $709K of depreciation and amortization and $179K of share-based compensation. Working capital and other items added $15.3M. Capital expenditures of $659K left free cash flow of $22.7M.
Questions
What was Choiceone Financial Services' revenue in the fourth quarter 2024?
Choiceone Financial Services (COFS) reported revenue of $36.0M for the fourth quarter 2024 (Q4 2024), +75% from a year earlier and -1% from the quarter before.
Was Choiceone Financial Services profitable in the fourth quarter 2024?
Operating profit was $8.8M (24.4% of revenue) and net earnings $7.2M.