Back to top

Image: Bigstock

Regions Financial (RF) Q2 Earnings Beat on High Revenues

Read MoreHide Full Article

Have you been eager to see how Regions Financial Corporation (RF - Free Report) performed in Q2 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 adjusted earnings per share of 25 cents, beating the Zacks Consensus Estimate of 24 cents. A rise in revenues was primarily responsible for earnings beat, partially offset by higher expenses.

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 7 days.

Also, Regions has a decent earnings surprise history. Before posting earnings beat in Q2, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 5.85% in the trailing four quarters.
 

Revenue Came In As Expected

Regions Financial posted adjusted total revenues of $1.42 billion, in line with the Zacks Consensus Estimate. It was above the year-ago number of $1.39 billion by 2.4%.

Key Stats:

  • Net Income: $300 million in Q2, up from $259 million in the prior year quarter
  • Net interest margin (FTE): 3.32%, up from 3.15% in prior year quarter.
  • Provision for loan losses: $48 million, down 33.3% from the year-ago 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 seethe 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!

Will You Make a Fortune on the Shift to Electric Cars?
 

Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.

With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.

It's not the one you think.

See This Ticker Free >>


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Regions Financial Corporation (RF) - free report >>

Published in