United Community Banks (UCBI) Beats Q2 Earnings and Revenue Estimates

分组1 - United Community Banks (UCBI) reported quarterly earnings of $0.58 per share, exceeding the Zacks Consensus Estimate of $0.51 per share, and showing an increase from $0.55 per share a year ago, resulting in an earnings surprise of 13.73% [1] - The company posted revenues of $245.26 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 3.14%, and an increase from $236.67 million year-over-year [2] - Over the last four quarters, UCBI has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] 分组2 - The current consensus EPS estimate for the upcoming quarter is $0.53 on revenues of $243.88 million, and for the current fiscal year, it is $2.12 on revenues of $965.43 million [6] - The estimate revisions trend for UCBI is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [9] - The Zacks Industry Rank for Banks - Southeast is in the bottom 38% of over 250 Zacks industries, suggesting that the industry outlook may negatively impact UCBI's stock performance [10]