Alabama-based Regions Financial falls short of first-quarter earnings expectations
Published 8:33 am Friday, April 21, 2023
Regions Financial Corp. (RF) on Friday reported first-quarter earnings of $612 million.
The Birmingham, Alabama-based bank said it had earnings of 62 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The holding company for Regions Bank posted revenue of $2.17 billion in the period. Its revenue net of interest expense was $1.95 billion, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $1.96 billion.