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Compared to Estimates, Synovus (SNV) Q2 Earnings: A Look at Key Metrics
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Synovus Financial (SNV - Free Report) reported $567.81 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.6%. EPS of $1.16 for the same period compares to $1.17 a year ago.
The reported revenue represents a surprise of -0.53% over the Zacks Consensus Estimate of $570.82 million. With the consensus EPS estimate being $1.14, the EPS surprise was +1.75%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Synovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.2% versus the seven-analyst average estimate of 3.24%.
Efficiency Ratio: 53.99% versus 52.99% estimated by seven analysts on average.
Net charge-offs to average loan: 0.24% compared to the 0.22% average estimate based on five analysts.
Total interest earning assets - Average Balance: $57.18 billion compared to the $57.85 billion average estimate based on five analysts.
Total Non-performing loans: $261.51 million versus $203.29 million estimated by two analysts on average.
Total Non-performing Assets: $261.51 million compared to the $205.79 million average estimate based on two analysts.
Total non-interest revenue: $112.28 million versus the seven-analyst average estimate of $106.67 million.
Net Interest Income (FTE): $456.67 million versus $467.03 million estimated by six analysts on average.
Net Interest Income: $455.53 million versus the six-analyst average estimate of $467.29 million.
Card fees: $17.06 million compared to the $16.03 million average estimate based on four analysts.
Capital markets income: $6.98 million versus $7.08 million estimated by four analysts on average.
Brokerage revenue: $20.91 million versus the four-analyst average estimate of $21.79 million.
Shares of Synovus have returned +11.7% over the past month versus the Zacks S&P 500 composite's +3.4% 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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Compared to Estimates, Synovus (SNV) Q2 Earnings: A Look at Key Metrics
Synovus Financial (SNV - Free Report) reported $567.81 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 8.6%. EPS of $1.16 for the same period compares to $1.17 a year ago.
The reported revenue represents a surprise of -0.53% over the Zacks Consensus Estimate of $570.82 million. With the consensus EPS estimate being $1.14, the EPS surprise was +1.75%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Synovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.2% versus the seven-analyst average estimate of 3.24%.
- Efficiency Ratio: 53.99% versus 52.99% estimated by seven analysts on average.
- Net charge-offs to average loan: 0.24% compared to the 0.22% average estimate based on five analysts.
- Total interest earning assets - Average Balance: $57.18 billion compared to the $57.85 billion average estimate based on five analysts.
- Total Non-performing loans: $261.51 million versus $203.29 million estimated by two analysts on average.
- Total Non-performing Assets: $261.51 million compared to the $205.79 million average estimate based on two analysts.
- Total non-interest revenue: $112.28 million versus the seven-analyst average estimate of $106.67 million.
- Net Interest Income (FTE): $456.67 million versus $467.03 million estimated by six analysts on average.
- Net Interest Income: $455.53 million versus the six-analyst average estimate of $467.29 million.
- Card fees: $17.06 million compared to the $16.03 million average estimate based on four analysts.
- Capital markets income: $6.98 million versus $7.08 million estimated by four analysts on average.
- Brokerage revenue: $20.91 million versus the four-analyst average estimate of $21.79 million.
View all Key Company Metrics for Synovus here>>>Shares of Synovus have returned +11.7% over the past month versus the Zacks S&P 500 composite's +3.4% 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.