Regions Q2 EPS $0.59, revenue $2.0B; raises dividend 20% to $0.24/share

REGIONS FINANCIAL CORP

2023-Q2 EPS reported $1.22

Net income available to common of $556M ($0.59 diluted EPS), flat YoY; total revenue $2.0B.
NII $1.381B (-2.5% QoQ) as deposit costs normalized; NIM 4.04% (-18bps).
CET1 ratio 10.1%; Board declared $0.24 quarterly dividend, a 20% increase.
Non-interest expense $1.111B (+8% QoQ) driven by $82M check fraud costs; fraud now normalized.
2023 guidance: adjusted revenue +6-8%, NII +12-14% vs 2022; 3Q23 NII expected ~-5% QoQ.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

REGIONS FINANCIAL CORP reported Second quarter 2023 results: revenue $2.0B, net income $556M, EPS $0.59.

Period: Second quarter 2023
Revenue: $2.0B
Net income: $556M
EPS: $0.59
Result: reported results

Exact text from the filing

2Q23 Reported Net Income Available to Common Shareholders $556M Diluted Earnings Per Share $0.59 Total Revenue $2.0B

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Source: SEC EDGAR

accession 0001281761-23-000039

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