Alabama-based Regions Financial beats Wall Street’s expectations in Q4

Published 7:05 am Friday, January 20, 2023

Alabama-based Regions Financial Corp. (RF) on Friday reported fourth-quarter earnings of $685 million.

The Birmingham, Alabama-based bank said it had earnings of 70 cents per share. Earnings, adjusted for non-recurring gains, were 67 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The holding company for Regions Bank posted revenue of $2.15 billion in the period. Its revenue net of interest expense was $2 billion, also topping Street forecasts. Seven analysts surveyed by Zacks expected $1.94 billion.

For the year, the company reported profit of $2.25 billion, or $2.28 per share. Revenue was reported as $7.22 billion.