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South State (SSB) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, South State (SSB - Free Report) reported revenue of $428.22 million, down 1.7% over the same period last year. EPS came in at $1.62, compared to $1.89 in the year-ago quarter.
The reported revenue represents a surprise of -0.35% over the Zacks Consensus Estimate of $429.7 million. With the consensus EPS estimate being $1.63, the EPS surprise was -0.61%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how South State performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin (Non-Tax Equivalent): 3.5% versus the four-analyst average estimate of 3.5%.
Efficiency Ratio: 54% compared to the 56.4% average estimate based on four analysts.
Net charge-offs (recoveries) as a percentage of average loans (annualized): 0.2% compared to the 0.3% average estimate based on three analysts.
Average Balance - Total interest-earning assets: $40.38 billion versus the two-analyst average estimate of $39.98 billion.
Total Nonperforming Assets: $166.75 million versus the two-analyst average estimate of $175.33 million.
Net Interest Income: $355.37 million compared to the $356.38 million average estimate based on four analysts.
Total Noninterest Income: $72.85 million compared to the $73.33 million average estimate based on four analysts.
Net interest income, tax equivalent (Non-GAAP): $356.02 million compared to the $357.43 million average estimate based on three analysts.
Shares of South State have returned -2.9% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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South State (SSB) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, South State (SSB - Free Report) reported revenue of $428.22 million, down 1.7% over the same period last year. EPS came in at $1.62, compared to $1.89 in the year-ago quarter.
The reported revenue represents a surprise of -0.35% over the Zacks Consensus Estimate of $429.7 million. With the consensus EPS estimate being $1.63, the EPS surprise was -0.61%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how South State performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin (Non-Tax Equivalent): 3.5% versus the four-analyst average estimate of 3.5%.
- Efficiency Ratio: 54% compared to the 56.4% average estimate based on four analysts.
- Net charge-offs (recoveries) as a percentage of average loans (annualized): 0.2% compared to the 0.3% average estimate based on three analysts.
- Average Balance - Total interest-earning assets: $40.38 billion versus the two-analyst average estimate of $39.98 billion.
- Total Nonperforming Assets: $166.75 million versus the two-analyst average estimate of $175.33 million.
- Net Interest Income: $355.37 million compared to the $356.38 million average estimate based on four analysts.
- Total Noninterest Income: $72.85 million compared to the $73.33 million average estimate based on four analysts.
- Net interest income, tax equivalent (Non-GAAP): $356.02 million compared to the $357.43 million average estimate based on three analysts.
View all Key Company Metrics for South State here>>>Shares of South State have returned -2.9% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.