Categories Analysis, Earnings, Finance

Regions Financial misses earnings and revenue estimates for Q4

Regions Financial Corp (RF) reported fourth quarter EPS from continuing ops of $0.37 on revenue of $1.44 billion. Analysts had expected the financial services firm to post earnings of $0.38 per share on revenue of $1.48 billion. Profit per share jumped 42%, while revenue increased 1.8% compared to the year-ago quarter.

For the year ending December 31, 2018, Regions Financial posted EPS from continuing ops of $1.36 versus $0.98 in the prior year.

“This year we delivered high-quality growth in loans, non-interest income and households while also building a more efficient and effective company,” said John Turner, CEO.

On an adjusted basis, net interest income and other financing income increased 6% for the recently ended quarter, helped by the higher interest rates and average loan balances. Non-interest income decreased 5% on an adjusted basis.

Adjusted average loans increased 4% over the prior-year quarter. Total average deposit balances decreased 4% from the prior year as growth in average Consumer segment deposits was offset by strategic reductions in Wealth Management and Other segment deposits.

Regions’ peer SunTrust Banks (STI) also reported its Q4 earnings on Friday before the bell. SunTrust shares rose about 5% in the pre-market as the results beat Consensus’ predictions.

Shares of Regions Financial closed Thursday’s session at $15.61, up 1.36%. The stock has a one year low of $12.39 and one year high of $20.21.

KeyCorp beats estimates on Q4 revenue and earnings

 

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text 

 

 

 

 

Most Popular

Does Unity Software (U) stock has more room to run?

Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a

PepsiCo (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the

Does the virus-driven boom make Electronic Arts (EA) a good investment?

With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,

Leave a Reply

Your email address will not be published. Required fields are marked *

Add Comment
Loading...

Cancel
Viewing Highlight
Loading...
Highlight
Close
Top