Regions Financial's (NYSE:RF) net income increased and topped Wall Street expectations in the second quarter.
Earnings and Revenue The company announced EPS of 20 cents a share against the 14 cents a share estimate. The company's reported EPS came in above the high estimate of 22 analysts of a profit of 18 cents.
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The company's net income for the quarter was $355 million. According to the reported number, this is up 225.7% from last year's levels.
Company Fundamental Trends
History Against Expectations The company has now topped analyst estimates for at least the last four quarters. It beat by 6 cents in the first quarter, 2 cents in the fourth quarter of the last fiscal year and 4 cents in the third quarter of the last fiscal year.
Official Comment: "We continued to make incremental progress on many key fronts and are pleased with the improvement of our financial performance despite considerable economic and political uncertainty, and an uneven economic recovery," said Grayson Hall, president and chief executive officer. "By focusing on initiatives that we can control, we continue to drive sustainable and prudent growth across our business."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.