Here's What Key Metrics Tell Us About Regions Financial (RF) Q2 Earnings

Core Insights - Regions Financial reported revenue of $1.73 billion for the quarter ended June 2024, a decrease of 11.6% year-over-year, with EPS at$ 0.52 compared to $0.59 in the same quarter last year [1] - The revenue fell short of the Zacks Consensus Estimate of$ 1.76 billion, resulting in a surprise of -1.56%, while the EPS exceeded expectations by 6.12% against a consensus estimate of $0.49 [1] Financial Performance Metrics - Net interest margin (FTE) was reported at 3.5%, matching the average estimate from eight analysts [2] - Efficiency Ratio stood at 57.6%, slightly better than the average estimate of 58.1% [2] - Average balance of total earning assets was$ 137.07 billion, exceeding the seven-analyst average estimate of $136.32 billion [2] - Common Equity Tier 1 ratio was 10.4%, in line with the average estimate from six analysts [2] - Net charge-offs as a percentage of average loans were 0.4%, better than the estimated 0.5% [2] - Non-performing assets totaled$ 862 million, significantly lower than the estimated $971.89 million [2] - Non-performing loans, including loans held for sale, were$ 847 million, compared to the average estimate of $962.46 million [2] - Leverage Ratio was reported at 9.8%, slightly below the average estimate of 9.9% [2] - Total risk-based capital ratio was 13.6%, compared to the average estimate of 13.8% [2] - Tier 1 Capital Ratio was 11.7%, matching the average estimate [2] - Total Non-Interest Income was$ 545 million, below the average estimate of $596.23 million [2] - Net Interest Income was$ 1.19 billion, slightly above the average estimate of $1.17 billion [2] Stock Performance - Shares of Regions Financial have increased by 16.8% over the past month, outperforming the Zacks S&P 500 composite, which saw a change of +1.1% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]