Regions Financial (RF) Tops Q1 EPS by 16c, Revenues Beat

Regions Financial (NYSE: RF) reported Q1 EPS of $0.63, $0.16 better than the analyst estimate of $0.47. Revenue for the quarter came in at $1.61 billion versus the consensus estimate of $1.55 billion.

“Our ability to continue to deliver value in the first quarter is a testament to both the investments we've made as well as our associates' unwavering commitment to our customers and communities. With a 14 percent increase in total revenue compared to the first quarter of 2020, it is clear that our investments are producing solid results,” said John Turner, president and CEO.

"We have remained committed to prudent credit risk management across all our portfolios. The resiliency of our credit metrics reflects our clear and deliberate strategy which includes a focus on client selectivity as we are committed to generating appropriate risk-adjusted returns," Turner added. "We're pleased with the strength of our pipelines and the increase in business activity across industries. We're also encouraged by vaccination rates and rebounding employment across our footprint. While we are all still dealing with the lingering effects of the pandemic, our ongoing conversations with customers reflect optimism about further economic recovery and growth. We'll continue to deepen our relationships with customers by providing personalized solutions and financial guidance combined with technology solutions that make banking easier."

For earnings history and earnings-related data on Regions Financial (RF) click here.

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