Western New England Bancorp, Inc. (WNEB) [Rocket]

Overview

Western New England Bancorp, Inc. (WNEB)

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Recent News + Filings (All items)

Date Filed	Type	Description
10/02/2023	8-K	Quarterly results
09/29/2023	8-K	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...
08/08/2023	4	Richter Steven G. (Director) has filed a Form 4 on Western New England Bancorp, Inc.
08/08/2023	4	PICKNELLY PAUL C (Director) has filed a Form 4 on Western New England Bancorp, Inc.
08/08/2023	4	ORLEN GREGG F (Director) has filed a Form 4 on Western New England Bancorp, Inc.
08/08/2023	4	McMahon Lisa G (Director) has filed a Form 4 on Western New England Bancorp, Inc.
08/08/2023	4	MASSE WILLIAM D (Director) has filed a Form 4 on Western New England Bancorp, Inc.

Revenue Mix by Segment

Financial Summary (All financials)

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
Revenues	91.9	86.7	65.9	65.0	67.3	66.5	42.7	35.3
Revenue growth	6.0%	31.5%	1.4%	-3.5%	1.2%	55.8%	21.1%	3.9%
Cost of goods sold	37.7	36.8	33.9	31.8	30.0	29.2	20.0	17.5
Gross profit	54.2	49.8	32.0	33.2	37.4	37.3	22.7	17.8
Gross margin	59.0%	57.5%	48.6%	51.0%	55.5%	56.1%	53.2%	50.4%
Selling, general and administrative
Sales and marketing	1.4	1.3	1.1	1.3	1.4	1.3	0.9	0.8
Research and development
General and administrative	5.6	5.1	5.3	5.2	5.4	4.9	3.9	3.6
EBITA	37.8	32.1	14.9	25.3	25.7	29.9	9.5	5.0
EBITA margin	41.1%	37.0%	22.6%	39.0%	38.1%	45.0%	22.2%	14.3%
Amortization of intangibles	0.4	0.4	0.4	0.4	0.4	0.4	0.1
EBIT	37.4	31.7	14.5	25.0	25.3	29.6	9.4	5.0
EBIT margin	40.7%	36.6%	22.0%	38.4%	37.6%	44.4%	22.0%	14.3%
Pre-tax income	34.6	31.7	14.2	17.2	21.1	21.7	7.4	7.8
Income taxes	8.7	8.0	2.9	3.9	4.7	9.4	2.6	2.1
Tax rate	25.2%	25.3%	20.8%	22.4%	22.3%	43.4%	34.7%	27.1%
Net income	25.9	23.7	11.2	13.3	16.4	12.3	4.8	5.7
Net margin	28.2%	27.3%	17.0%	20.5%	24.4%	18.5%	11.3%	16.2%

Diluted EPS	$1.18	$1.02	$0.45	$0.51	$0.57	$0.41	$0.24	$0.33
Shares outstanding (diluted)	21.9	23.3	25.1	26.3	29.0	30.0	19.8	17.5

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.