Regions Financial Set to Report Quarterly Earnings as Analysts Expect Slowing Revenue Growth
Regions Financial Corporation (NYSE:RF) is scheduled to release its quarterly financial results tomorrow before the market opens. Wall Street analysts project the regional lender will generate revenue growth of 2% year over year, marking a deceleration from the 3.9% expansion logged during the equivalent period last year. Analysts covering the company have largely reconfirmed their estimates over the past 30 days.
The upcoming report follows a mixed previous quarter where the bank generated $1.96 billion in revenue, up 2.3% year over year. While that performance topped revenue and earnings estimates, the company fell slightly short on tangible book value per share. Furthermore, Regions Financial Corporation has missed quarterly sales expectations multiple times over the past two years.
Peer regional banks offer context for the sector's current backdrop. Home Bancshares grew revenue 5.4% but missed projections, while FB Financial reported flat revenue and fell short of expectations, leading to a 4.8% decline in its stock price. Shares of bank stocks have generally struggled, dropping 6% on average over the past month, while Regions Financial Corporation traded down 3.8% over the same timeframe.
Key points
- Regions Financial Corporation (NYSE:RF) will report earnings tomorrow before the market opens, with analysts projecting 2% year-over-year revenue growth.
- In the previous quarter, the bank generated $1.96 billion in revenue, beating sales and earnings expectations despite a minor miss in tangible book value per share.
- Wall Street analysts have reconfirmed their estimates over the last 30 days, though the company has missed revenue targets multiple times in the past two years.
- Sector peers Home Bancshares and FB Financial both missed third-quarter revenue expectations, reflecting recent weakness across regional bank stocks.
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When does Regions Financial report earnings?
Regions Financial Corporation is scheduled to report its quarterly financial results tomorrow before the market opens.
What are Wall Street expectations for Regions Financial's revenue growth?
Wall Street expects revenue growth of 2% year over year, slowing from 3.9% recorded in the same period last year.
How did Regions Financial perform in its previous quarterly earnings report?
The bank reported $1.96 billion in revenue, up 2.3% year over year. It beat revenue and earnings per share estimates but missed tangible book value per share expectations.