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Stock impact report

Regions Financial's stock set to gain after profit and revenue miss, but NII beat [MarketWatch]

Regions Financial Corporation (RF) 
Last regions financial corporation earnings: 4/17 06:00 am Check Earnings Report
US:NYSE Investor Relations: ir.regions.com
Company Research Source: MarketWatch
Shares of Regions Financial Corp. were indicated up about 1% in premarket trading Friday, after the regional bank reported first-quarter profit and revenue that missed expectations, hurt by COVID-19-related declines in customer activity and market volatility, but beat on net interest income (NII). Net income fell to $139 million, or 14 cents a share, from $378 million, or 37 cents a share, in the year-ago period. The results included a negative impact of 1 cent a share, from non-recurring costs such as branch consolidation costs. The FactSet consensus for earnings per share was 22 cents. Revenue declined to $1.41 billion from $1.45 billion a year ago, below the FactSet consensus of $1.46 billion. Net interest income fell 2.2% to $940 million, but beat the FactSet consensus of $920.4 million, while net interest margin slipped to 3.44% from 3.51% but topped expectations of 3.39%. Total loans declined to $83.25 billion from $83.73 billion, as declines in indirect vehicle, home equity and Show less Read more
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