Renasant (RNST) Misses Q2 Earnings Estimates

Core Viewpoint - Renasant's quarterly earnings of $0.69 per share missed the Zacks Consensus Estimate of $0.74 per share, representing an earnings surprise of -6.76% [1] - The company reported revenues of $267.19 million, exceeding the Zacks Consensus Estimate by 3.07% and showing significant growth from $163.79 million a year ago [2] Earnings Performance - Over the last four quarters, Renasant has surpassed consensus EPS estimates three times [2] - The company had a previous quarter earnings expectation of $0.60 per share, but actual earnings were $0.66, resulting in a positive surprise of +10% [1] Stock Performance - Renasant shares have increased approximately 7.6% since the beginning of the year, outperforming the S&P 500's gain of 7.2% [3] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.77 for the next quarter and $3.00 for the current fiscal year [7] - The Zacks Rank for Renasant is currently 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Banks - Southeast industry, to which Renasant belongs, is currently in the top 16% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8] - Another company in the same industry, Origin Bancorp, is expected to report quarterly earnings of $0.78 per share, reflecting a year-over-year increase of +16.4% [9]