Regions Financial Q1 2024 Adj EPS $0.44 Misses $0.45 Estimate, Sales $1.797B Beat $1.747B Estimate
Portfolio Pulse from Benzinga Newsdesk
Regions Financial (NYSE:RF) reported Q1 2024 earnings of $0.44 per share, missing the consensus estimate of $0.45 by 2.22%. Quarterly sales were $1.797 billion, exceeding the estimate of $1.747 billion by 2.83%, but representing a 7.94% decrease from the previous year's $1.952 billion.
April 19, 2024 | 10:04 am
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NEUTRAL IMPACT
Regions Financial reported a slight miss on EPS estimates but exceeded sales forecasts for Q1 2024, with a notable year-over-year sales decline.
The slight miss in EPS estimates may concern some investors, potentially putting downward pressure on RF's stock price. However, the beat on sales forecasts could offset this negative impact, suggesting a neutral short-term price direction. The year-over-year sales decline is significant but was already anticipated by the market, as reflected in the analyst estimates.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100