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Compared to Estimates, South Plains Financial (SPFI) Q2 Earnings: A Look at Key Metrics
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South Plains Financial (SPFI - Free Report) reported $48.6 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 40.5%. EPS of $0.66 for the same period compares to $0.55 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $46.5 million, representing a surprise of +4.51%. The company delivered an EPS surprise of +15.79%, with the consensus EPS estimate being $0.57.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 South Plains Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency ratio: 66.7% versus 69.6% estimated by two analysts on average.
Average Balance - Total interest-earning assets: $4 billion versus $4.04 billion estimated by two analysts on average.
Nonperforming Loans: $23.45 million versus $3.87 million estimated by two analysts on average.
Net Interest Margin (FTE): 3.6% versus the two-analyst average estimate of 3.5%.
Net charge-offs (recoveries) to average loans outstanding (annualized): 0.1% versus 0.2% estimated by two analysts on average.
Net Interest Income: $35.89 million versus the two-analyst average estimate of $34.79 million.
Net Interest Income (FTE): $36.11 million versus $34.79 million estimated by two analysts on average.
Total Noninterest Income: $12.71 million versus $11.69 million estimated by two analysts on average.
Shares of South Plains Financial have returned +18.6% over the past month versus the Zacks S&P 500 composite's +2.1% 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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Compared to Estimates, South Plains Financial (SPFI) Q2 Earnings: A Look at Key Metrics
South Plains Financial (SPFI - Free Report) reported $48.6 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 40.5%. EPS of $0.66 for the same period compares to $0.55 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $46.5 million, representing a surprise of +4.51%. The company delivered an EPS surprise of +15.79%, with the consensus EPS estimate being $0.57.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 South Plains Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency ratio: 66.7% versus 69.6% estimated by two analysts on average.
- Average Balance - Total interest-earning assets: $4 billion versus $4.04 billion estimated by two analysts on average.
- Nonperforming Loans: $23.45 million versus $3.87 million estimated by two analysts on average.
- Net Interest Margin (FTE): 3.6% versus the two-analyst average estimate of 3.5%.
- Net charge-offs (recoveries) to average loans outstanding (annualized): 0.1% versus 0.2% estimated by two analysts on average.
- Net Interest Income: $35.89 million versus the two-analyst average estimate of $34.79 million.
- Net Interest Income (FTE): $36.11 million versus $34.79 million estimated by two analysts on average.
- Total Noninterest Income: $12.71 million versus $11.69 million estimated by two analysts on average.
View all Key Company Metrics for South Plains Financial here>>>Shares of South Plains Financial have returned +18.6% over the past month versus the Zacks S&P 500 composite's +2.1% 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.