Regions Q1 EPS $0.37; NII falls 3.8% QoQ, NIM 3.55%; guides FY NII $4.7-4.8B

REGIONS FINANCIAL CORP

2024-Q1 EPS reported $0.37

Net income available to common $343M, diluted EPS $0.37, down ~40% YoY.
Net interest income $1.184B (-3.8% QoQ); NIM 3.55% (-5 bps QoQ).
FY2024 guidance: NII $4.7-$4.8B; adjusted non-interest income $2.3-2.4B; expense ~$4.1B.
Recognized $50M pre-tax loss on sale of $1.3B securities; reinvested at higher yields.
Net charge-offs 0.50% annualized; FY2024 NCO guidance 40-50 bps.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

REGIONS FINANCIAL CORP reported first quarter 2024 results: revenue $1.7B, net income $343M, EPS $0.37. Guidance initiated.

Period: first quarter 2024
Revenue: $1.7B
Net income: $343M
EPS: $0.37
Guidance: initiated
Result: reported results

Exact text from the filing

1Q24 Reported Adjusted(1) Net Income Available to Common Shareholders $343M Diluted Earnings Per Share $0.37 Total Revenue $1.7B $1.8B Non-Interest Expense $1.1B $1.1B Pre-Tax Pre-Provision Income(1) $616M $700M Efficiency Ratio 64.3% 60.6% Net-Charge Offs / Avg Loans 0.50% 0.50%

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1349 earnings releases filed in the last 30 days. Browse all earnings releases →

REGIONS FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001281761-24-000022

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