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Compared to Estimates, Zions (ZION) Q1 Earnings: A Look at Key Metrics
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For the quarter ended March 2024, Zions (ZION - Free Report) reported revenue of $752 million, down 11.3% over the same period last year. EPS came in at $1.03, compared to $1.33 in the year-ago quarter.
The reported revenue represents a surprise of +0.64% over the Zacks Consensus Estimate of $747.21 million. With the consensus EPS estimate being $1.00, the EPS surprise was +3.00%.
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 Zions performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin: 2.9% compared to the 2.9% average estimate based on nine analysts.
Average balance - Total interest-earning assets: $81.61 billion versus the eight-analyst average estimate of $80.72 billion.
Efficiency Ratio: 67.9% versus 68.5% estimated by eight analysts on average.
Net charge-offs to average loans and leases: 0% versus 0.1% estimated by seven analysts on average.
Total nonperforming assets: $254 million compared to the $223.76 million average estimate based on three analysts.
Tier 1 risk-based capital ratio: 11% compared to the 10.7% average estimate based on three analysts.
Total risk-based capital ratio: 12.9% versus the three-analyst average estimate of 12.8%.
Total nonaccrual Loan: $248 million compared to the $217.34 million average estimate based on three analysts.
Tier 1 leverage ratio: 8.4% compared to the 8.3% average estimate based on two analysts.
Total Noninterest Income: $156 million compared to the $161.19 million average estimate based on nine analysts.
Taxable-equivalent net interest income: $596 million versus the eight-analyst average estimate of $587.04 million.
Other customer-related fees: $14 million compared to the $15.53 million average estimate based on seven analysts.
Shares of Zions have returned -1.8% over the past month versus the Zacks S&P 500 composite's -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, Zions (ZION) Q1 Earnings: A Look at Key Metrics
For the quarter ended March 2024, Zions (ZION - Free Report) reported revenue of $752 million, down 11.3% over the same period last year. EPS came in at $1.03, compared to $1.33 in the year-ago quarter.
The reported revenue represents a surprise of +0.64% over the Zacks Consensus Estimate of $747.21 million. With the consensus EPS estimate being $1.00, the EPS surprise was +3.00%.
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 Zions performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.9% compared to the 2.9% average estimate based on nine analysts.
- Average balance - Total interest-earning assets: $81.61 billion versus the eight-analyst average estimate of $80.72 billion.
- Efficiency Ratio: 67.9% versus 68.5% estimated by eight analysts on average.
- Net charge-offs to average loans and leases: 0% versus 0.1% estimated by seven analysts on average.
- Total nonperforming assets: $254 million compared to the $223.76 million average estimate based on three analysts.
- Tier 1 risk-based capital ratio: 11% compared to the 10.7% average estimate based on three analysts.
- Total risk-based capital ratio: 12.9% versus the three-analyst average estimate of 12.8%.
- Total nonaccrual Loan: $248 million compared to the $217.34 million average estimate based on three analysts.
- Tier 1 leverage ratio: 8.4% compared to the 8.3% average estimate based on two analysts.
- Total Noninterest Income: $156 million compared to the $161.19 million average estimate based on nine analysts.
- Taxable-equivalent net interest income: $596 million versus the eight-analyst average estimate of $587.04 million.
- Other customer-related fees: $14 million compared to the $15.53 million average estimate based on seven analysts.
View all Key Company Metrics for Zions here>>>Shares of Zions have returned -1.8% over the past month versus the Zacks S&P 500 composite's -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.