Regions Financial (RF) Misses Q2 EPS by 1c

Regions Financial (NYSE: RF) reported Q2 EPS of $0.32, $0.01 worse than the analyst estimate of $0.33. Revenue for the quarter came in at $1.44 billion versus the consensus estimate of $1.44 billion.

“Regions is making meaningful progress on its strategic plan to grow revenues, develop deeper customer relationships, deliver enhanced services to the marketplace, and operate more effectively over time,” said John Turner, President and CEO. “We continue to make prudent investments to ensure Regions is well-positioned to meet the needs of today’s customers, and also anticipate and meet the needs of tomorrow’s customers. Importantly, our deposit base remains strong, and asset quality continues to improve. We are also pleased that our capital planning process led to another successful completion of the Comprehensive Capital Analysis and Review (CCAR).”

Turner added, “Regions also received further recognition for our customer-focused approach to business. Based on customer feedback, Javelin Strategy & Research designated Regions as a Trust in Banking Leader for the second consecutive year, reflecting our reliability in meeting customers’ needs and the confidence customers have in Regions to look out for their best interests. Our commitment to service and the quality of our customer interactions are the hallmarks of our business. These qualities are part of the culture that Executive Chairman, Grayson Hall, established during his successful tenure as CEO and will continue to define our comprehensive approach to customer service and relationship banking.”

For earnings history and earnings-related data on Regions Financial (RF) click here.

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