Categories AlphaGraphs, Finance
Infographic: Regions Financial Q2 2020 earnings
Increased provision for bad debt pushes Regions Financials into a quarterly loss in Q2
Regions Financial Corporation (NYSE: RF) reported second-quarter financial results before the regular trading hours on Friday. The bank holding company reported a loss of 25 cents per share, even as analysts expected a profit of 6 cents per share. Meanwhile, total revenue of $1.54 billion was above the street expectation of $1.47 billion.
RF shares fell 5% during pre-market hours on Friday. The stock has declined 36% since the beginning of this year.
CEO John Turner said, “Our reported net loss reflects a significant credit loss provision that provides for potential future losses in the severely adverse economy in which we are operating.”
In Q2, provision for credit losses was $882 million, compared to $92 million a year ago.
The CEO added, “The actions we have taken over time to strengthen and diversify our business, de-risk our loan book, deploy an effective interest rate hedging program and streamline our operating model have positioned us to support our customers and communities through these challenges.”
[irp posts=”65999″]
Year-ago performance
Most Popular
CCL Earnings: Carnival Corp. Q4 2024 revenue rises 10%
Carnival Corporation & plc. (NYSE: CCL) Friday reported strong revenue growth for the fourth quarter of 2024. The cruise line operator reported a profit for Q4, compared to a loss
Key metrics from Nike’s (NKE) Q2 2025 earnings results
NIKE, Inc. (NYSE: NKE) reported total revenues of $12.4 billion for the second quarter of 2025, down 8% on a reported basis and down 9% on a currency-neutral basis. Net
FDX Earnings: FedEx Q2 2025 adjusted profit increases; revenue dips
Cargo giant FedEx Corporation (NYSE: FDX), which completed an organizational restructuring recently, announced financial results for the second quarter of 2025. Second-quarter earnings, excluding one-off items, were $4.05 per share,