Regions Financial (RF) Misses Q3 EPS by 4c, Revenues Miss

Regions Financial (NYSE: RF) reported Q3 EPS of $0.32, $0.04 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.47 billion.

“With respect to our financial performance, Regions continues to execute on its strategic plan,” said John Turner, President and CEO. “We produced solid revenues this quarter as we grew loans while maintaining credit discipline and operating more efficiently. These results demonstrate our commitment to continuous improvement and show that our investments in technology and talent are building a stronger company that benefits all stakeholders.”

“Communities throughout the Southeast are facing a long road to recovery following Hurricanes Michael and Florence,” continued Turner. “There’s nothing more important than helping our customers, neighbors and associates during the aftermath of these hurricanes, and I appreciate the responsiveness of our teams who worked quickly to provide resources and restore essential financial services in hard-hit areas. We are assessing the long-term impacts of these events and will continue to work closely with our customers to address their disaster-recovery needs.”

Turner added, “We are also focused on creating opportunities for growth in our communities, as evidenced by our $60 million contribution to the Regions Financial Corporation Foundation during the third quarter, building upon the $40 million contributed in December of 2017. Through the Foundation, Regions will strategically invest in community programs and organizations that support economic and community development, education and workforce readiness, and financial wellness. Through these contributions, we are positioning the Foundation to provide consistent and sustained investments in our communities for many years to come.”

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

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