Regions Financial First Quarter 2024 Earnings: EPS Misses Expectations

Regions Financial (NYSE:RF) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.60b (down 12% from 1Q 2023).
• Net income: US$343.0m (down 42% from 1Q 2023).
• Profit margin: 22% (down from 32% in 1Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.37 (down from US$0.63 in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Regions Financial EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%.

Looking ahead, revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 2.0% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. See our latest analysis on Regions Financial's balance sheet health.

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