Yahoo Finance Synovus (SNV) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
Synovus Financial (SNV) reported $306.15 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 46.1%. EPS of $1.16 for the same period compares to $1.16 a year ago.
The reported revenue represents a surprise of -38.35% over the Zacks Consensus Estimate of $496.57 million. With the consensus EPS estimate being $0.96, the EPS surprise was +20.83%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Synovus performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 98.2% versus 72% estimated by seven analysts on average.
Net Interest Margin: 3.2% compared to the 3.1% average estimate based on seven analysts.
Total interest earning assets - Average Balance: $54.85 billion versus the six-analyst average estimate of $55.59 billion.
Net charge-offs to average loan: 0.3% compared to the 0.4% average estimate based on five analysts.
Total Non-performing loans: $256.11 million compared to the $318.01 million average estimate based on three analysts.
Total Non-performing Assets: $256.93 million versus the three-analyst average estimate of $334.13 million.
Total non-interest revenue: -$128.85 million compared to the $40.79 million average estimate based on seven analysts.
Net Interest Income (FTE): $436.35 million compared to the $426 million average estimate based on six analysts.
Net Interest Income: $435 million versus the six-analyst average estimate of $422.53 million.
Mortgage Banking Income: $3.94 million compared to the $3.91 million average estimate based on four analysts.
Capital markets income: $15.08 million versus $6.82 million estimated by four analysts on average.
Card fees: $19.42 million versus $19.84 million estimated by four analysts on average.
View all Key Company Metrics for Synovus here>>>
Shares of Synovus have returned +22.2% over the past month versus the Zacks S&P 500 composite's +4.4% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Synovus Financial Corp. (SNV) : Free Stock Analysis Report
