For the quarter ended December 2023, SouthState (SSB - Free Report) reported revenue of $419.72 million, down 8.6% over the same period last year. EPS came in at $1.67, compared to $1.90 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $419.08 million, representing a surprise of +0.15%. The company delivered an EPS surprise of +8.44%, with the consensus EPS estimate being $1.54.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how SouthState performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 63.4% versus 58% estimated by four analysts on average.
- Net Interest Margin (Non-Tax Equivalent): 3.5% versus the four-analyst average estimate of 3.4%.
- Net charge-offs (recoveries) as a percentage of average loans (annualized): 0.1% versus 0.1% estimated by three analysts on average.
- Total Nonperforming Assets: $184.12 million compared to the $141.85 million average estimate based on two analysts.
- Average Balance - Total interest-earning assets: $40.47 billion versus the two-analyst average estimate of $40.24 billion.
- Net Interest Income: $354.23 million versus $349.73 million estimated by four analysts on average.
- Total Noninterest Income: $65.49 million versus the four-analyst average estimate of $69.39 million.
- Net interest income, tax equivalent (Non-GAAP): $354.89 million compared to the $349.08 million average estimate based on three analysts.
View all Key Company Metrics for SouthState here>>>Shares of SouthState have returned -4.2% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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For the quarter ended December 2023, SouthState (SSB - Free Report) reported revenue of $419.72 million, down 8.6% over the same period last year. EPS came in at $1.67, compared to $1.90 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $419.08 million, representing a surprise of +0.15%. The company delivered an EPS surprise of +8.44%, with the consensus EPS estimate being $1.54.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how SouthState performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 63.4% versus 58% estimated by four analysts on average.
- Net Interest Margin (Non-Tax Equivalent): 3.5% versus the four-analyst average estimate of 3.4%.
- Net charge-offs (recoveries) as a percentage of average loans (annualized): 0.1% versus 0.1% estimated by three analysts on average.
- Total Nonperforming Assets: $184.12 million compared to the $141.85 million average estimate based on two analysts.
- Average Balance - Total interest-earning assets: $40.47 billion versus the two-analyst average estimate of $40.24 billion.
- Net Interest Income: $354.23 million versus $349.73 million estimated by four analysts on average.
- Total Noninterest Income: $65.49 million versus the four-analyst average estimate of $69.39 million.
- Net interest income, tax equivalent (Non-GAAP): $354.89 million compared to the $349.08 million average estimate based on three analysts.
View all Key Company Metrics for SouthState here>>>Shares of SouthState have returned -4.2% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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