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

MCD Earnings: McDonald’s comp sales up 12.6% in Q4; profit increases

Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged. The company said fourth-quarter

GM Earnings: All you need to know about General Motors Q4 2022 earnings results

General Motors Co. (NYSE: GM) reported fourth quarter 2022 earnings results today. Revenue increased 28.4% year-over-year to $43.1 billion. Net income attributable to stockholders increased 14.8% to $2 billion while EPS rose 19.8%

CAT Earnings: Highlights of Caterpillar’s Q4 2022 results

Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings. Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per

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