Categories Earnings, Finance

Regions Financial’s Q1 earnings match expectations, revenues miss

Regions Financial Corporation (NYSE: RF) reported first quarter 2019 earnings that were in line with estimates while revenues fell short of expectations.

Total revenues grew 2.4% year-over-year to $1.45 billion. Net income available to common shareholders was $378 million, or $0.37 per share, compared to $398 million, or $0.35 per share in the year-ago period.

Regions Financial reports first quarter 2019 earnings results

Net interest income and other financing income grew 4% while net interest margin increased 7 basis points, driven mainly by higher interest rates and favorable remixing within the consumer loan portfolio into higher yielding products.

Non-interest income decreased 1% and non-interest expense decreased 3% on a reported basis. Average loans and leases increased 5% while average deposits fell 1%.

Annualized net charge-offs improved 4 basis points on a reported basis while the allowance for loan and lease losses as a percent of total loans fell 4 basis points. Total non-performing loans, excluding loans held for sale, dropped 13 basis points to 0.62% of loans outstanding.

The company’s Basel III Common Equity Tier 1 ratio stood at 9.8% while its tangible common book value per share, on an adjusted basis, was $9.72. Regions reported an efficiency ratio of 58.8% during the quarter, an improvement of 310 basis points from last year.

Regions Financial’s shares have climbed 18% year to date.

 

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Infographic: How Starbucks (SBUX) performed in Q1 2023

Starbucks Corporation (NASDAQ: SBUX) reported first quarter 2023 earnings results today. Consolidated net revenues increased 8% year-over-year to $8.7 billion, in line with projections.   Global comparable store sales increased

Earnings: Google parent Alphabet (GOOG, GOOGL) reports lower Q4 profit

Alphabet Inc. (NASDAQ: GOOGL, GOOG) on Thursday reported a 1% increase in fourth-quarter 2022 revenues, with strong contributions from the cloud business. The company, which owns the largest internet search

HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results

Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top