Back to top

Image: Bigstock

Renasant (RNST) Reports Q2 Earnings: What Key Metrics Have to Say

Read MoreHide Full Article

For the quarter ended June 2024, Renasant (RNST - Free Report) reported revenue of $163.79 million, up 11.1% over the same period last year. EPS came in at $0.69, compared to $0.83 in the year-ago quarter.

The reported revenue represents a surprise of +0.02% over the Zacks Consensus Estimate of $163.75 million. With the consensus EPS estimate being $0.67, the EPS surprise was +2.99%.

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.

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 Renasant performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Interest Margin: 3.3% compared to the 3.3% average estimate based on four analysts.
  • Efficiency ratio (GAAP): 67.3% versus the four-analyst average estimate of 67.1%.
  • Average Balance - Total interest-earning assets: $15.49 billion versus the three-analyst average estimate of $15.33 billion.
  • Annualized net loan charge-offs / average loans: 0.2% compared to the 0.1% average estimate based on three analysts.
  • Total Nonperforming Loans: $98.04 million compared to the $75.66 million average estimate based on two analysts.
  • Total Nonperforming Assets: $105.40 million versus $86.99 million estimated by two analysts on average.
  • Net Interest Income: $125.03 million compared to the $123.92 million average estimate based on four analysts.
  • Net Interest income (FTE): $127.60 million compared to the $126.60 million average estimate based on four analysts.
  • Total Noninterest Income: $38.76 million compared to the $39.81 million average estimate based on four analysts.
View all Key Company Metrics for Renasant here>>>

Shares of Renasant have returned +24.1% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Renasant Corporation (RNST) - free report >>

Published in