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Compared to Estimates, Synovus (SNV) Q3 Earnings: A Look at Key Metrics
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Synovus Financial (SNV - Free Report) reported $550.3 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 5.5%. EPS of $0.84 for the same period compares to $1.34 a year ago.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $542.53 million. With the consensus EPS estimate being $0.86, the EPS surprise was -2.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 Synovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 3.1% versus the seven-analyst average estimate of 3%.
Efficiency Ratio: 64.1% versus 58.4% estimated by seven analysts on average.
Net charge-offs to average loan: 0.6% versus 0.5% estimated by five analysts on average.
Total interest earning assets - Average Balance: $56.67 billion versus $56.83 billion estimated by five analysts on average.
Total Non-performing loans: $280.53 million versus $274.53 million estimated by three analysts on average.
Total Non-performing Assets: $280.53 million versus the three-analyst average estimate of $276.19 million.
Tier 1 Capital Ratio: 11.2% versus the two-analyst average estimate of 11.2%.
Total non-interest revenue: $107.14 million versus $106.45 million estimated by seven analysts on average.
Net Interest Income (FTE): $444.31 million versus the six-analyst average estimate of $431.88 million.
Net Interest Income: $443.16 million versus $430.99 million estimated by six analysts on average.
Mortgage Banking Income: $3.67 million compared to the $4.93 million average estimate based on four analysts.
Capital markets income: $6.38 million versus the four-analyst average estimate of $7.02 million.
Shares of Synovus have returned -4.7% over the past month versus the Zacks S&P 500 composite's -1.6% 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) Q3 Earnings: A Look at Key Metrics
Synovus Financial (SNV - Free Report) reported $550.3 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 5.5%. EPS of $0.84 for the same period compares to $1.34 a year ago.
The reported revenue represents a surprise of +1.43% over the Zacks Consensus Estimate of $542.53 million. With the consensus EPS estimate being $0.86, the EPS surprise was -2.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 Synovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 3.1% versus the seven-analyst average estimate of 3%.
- Efficiency Ratio: 64.1% versus 58.4% estimated by seven analysts on average.
- Net charge-offs to average loan: 0.6% versus 0.5% estimated by five analysts on average.
- Total interest earning assets - Average Balance: $56.67 billion versus $56.83 billion estimated by five analysts on average.
- Total Non-performing loans: $280.53 million versus $274.53 million estimated by three analysts on average.
- Total Non-performing Assets: $280.53 million versus the three-analyst average estimate of $276.19 million.
- Tier 1 Capital Ratio: 11.2% versus the two-analyst average estimate of 11.2%.
- Total non-interest revenue: $107.14 million versus $106.45 million estimated by seven analysts on average.
- Net Interest Income (FTE): $444.31 million versus the six-analyst average estimate of $431.88 million.
- Net Interest Income: $443.16 million versus $430.99 million estimated by six analysts on average.
- Mortgage Banking Income: $3.67 million compared to the $4.93 million average estimate based on four analysts.
- Capital markets income: $6.38 million versus the four-analyst average estimate of $7.02 million.
View all Key Company Metrics for Synovus here>>>Shares of Synovus have returned -4.7% over the past month versus the Zacks S&P 500 composite's -1.6% 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.