Prosperity Bancshares (PB) Surpasses Q3 Earnings and Revenue Estimates

Core Insights - Prosperity Bancshares reported quarterly earnings of $1.34 per share, exceeding the Zacks Consensus Estimate of $1.30 per share, and showing an increase from $1.20 per share a year ago, representing an earnings surprise of 3.08% [1] - The company generated revenues of $302.79 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.99% and up from $278.27 million year-over-year [1] Earnings Performance - The company has consistently surpassed consensus EPS estimates over the last four quarters, achieving this four times [1] - In the previous quarter, the company reported earnings of $1.22 per share against an expectation of $1.20, resulting in a surprise of 1.67% [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $1.33 on revenues of $302.51 million, while for the current fiscal year, the estimate is $5.03 on revenues of $1.18 billion [4] - The estimate revisions trend for Prosperity Bancshares is mixed, leading to a Zacks Rank 3 (Hold), indicating expected performance in line with the market [4] Industry Context - The Banks - Southwest industry, to which Prosperity Bancshares belongs, is currently ranked in the top 31% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [5] - Another bank in the same industry, ACNB, is expected to report a decline in quarterly earnings of $0.88 per share, reflecting a year-over-year change of -17% [5]