Yahoo Finance Regions Financial (RF) Q1 Earnings Beat on High Revenue
Have you been eager to see how Regions Financial Corporation RF performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this AL-based popular bank’s earnings release this morning:
An Earnings Beat
Regions Financial came out with earnings per share of 35 cents, beating the Zacks Consensus Estimate of 31 cents. A rise in revenues and credit provision were primarily responsible for the beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Regions Financial depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last seven days.
Also, Regions has an impressive earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.14% in the trailing four quarters.
Regions Financial Corporation Price and EPS Surprise
Regions Financial Corporation Price and EPS Surprise | Regions Financial Corporation Quote
Revenue Came In Lower Than Expected
Regions Financial posted adjusted total revenues of $1.41 billion, lagging the Zacks Consensus Estimate of $1.44 billion. However, it was above the year-ago number of $1.33 billion by 5.9%.
Key Stats:
Net Income from continuing operations: $398 million in Q1, up from $277 million in the prior year quarter
Net interest margin (FTE): 3.46%, up from 3.25% in prior year quarter
Provision for loan losses was a credit of $10 million in the quarter
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Regions Financial. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Regions Financial earnings report!
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