Cadence Bancorporation (CADE) Misses Q1 EPS by 6c, Revenues Beat

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Go back to Cadence Bancorporation (CADE) Misses Q1 EPS by 6c, Revenues Beat

Cadence Bancorporation Reports First Quarter 2020 Financial Results

April 29, 2020 6:31 AM EDT

HOUSTON--(BUSINESS WIRE)-- Cadence Bancorporation (NYSE: CADE) (Cadence) today announced a net loss for the quarter ended March 31, 2020 of ($399.3) million or ($3.15) per share, compared to net income of $58.2 million or $0.44 per share for the quarter ended March 31, 2019, and $51.4 million or $0.40 per share for the quarter ended December 31, 2019. The 2020 net loss resulted from a non-cash goodwill impairment charge of $412.9 million, net of tax, or ($3.26) per share. Adjusted net income(1), excluding non-routine income and expenses(2) and the impairment charge, was $12.5 million or $0.10 per share for the first quarter of 2020, compared to adjusted net income of $75.5... More