Renasant First Quarter 2024 Earnings: Beats Expectations

Renasant (NYSE:RNST) First Quarter 2024 Results

Key Financial Results

• Revenue: US$162.2m (down 2.6% from 1Q 2023).
• Net income: US$39.4m (down 14% from 1Q 2023).
• Profit margin: 24% (down from 28% in 1Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$0.70 (down from US$0.82 in 1Q 2023).

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

Renasant Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 6.0% 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

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Renasant's balance sheet.

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