Renasant (RNST) Q2 Earnings and Revenues Surpass Estimates

Financial Performance - Renasant reported quarterly earnings of $0.69 per share, exceeding the Zacks Consensus Estimate of $0.67 per share, but down from $0.83 per share a year ago, representing an earnings surprise of 2.99% [1] - The company posted revenues of $163.79 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.02%, and up from $147.44 million year-over-year [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.70 on revenues of $166.95 million, and for the current fiscal year, it is $2.71 on revenues of $662.35 million [7] - The estimate revisions trend for Renasant is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Market Comparison - Renasant shares have increased approximately 7.7% since the beginning of the year, while the S&P 500 has gained 16.7% [3] - The Zacks Industry Rank for Banks - Southeast is currently in the bottom 38% of over 250 Zacks industries, suggesting that the industry outlook may impact stock performance [8]