Regions Financial (RF) Misses Q2 EPS by 31c

Regions Financial (NYSE: RF) reported Q2 EPS of ($0.25), $0.31 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.47 billion.

"While our company and industry continue to navigate the unprecedented economic conditions created by the global coronavirus pandemic, this quarter's results demonstrate that our core business is solid and resilient," said John Turner, President and CEO. "Our reported net loss reflects a significant credit loss provision that provides for potential future losses in the severely adverse economy in which we are operating. The actions we have taken over time to strengthen and diversify our business, de-risk our loan book, deploy an effective interest rate hedging program and streamline our operating model have positioned us to support our customers and communities through these challenges."

"We continue to prioritize proactive risk management and strategic investments to improve service, efficiency and effectiveness while carefully managing expenses," continued Turner. "By focusing on our customers and the things we can control, we will deliver sustainable, long-term performance for our shareholders."

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

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