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SouthState (SSB) Reports Q2 Earnings: What Key Metrics Have to Say
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SouthState (SSB - Free Report) reported $425.48 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.1%. EPS of $1.79 for the same period compares to $1.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $419.25 million, representing a surprise of +1.49%. The company delivered an EPS surprise of +16.99%, with the consensus EPS estimate being $1.53.
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 SouthState 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): 3.4% compared to the 3.4% average estimate based on four analysts.
Efficiency Ratio: 57% compared to the 58.5% average estimate based on four analysts.
Net charge-offs (recoveries) as a percentage of average loans (annualized): 0.1% versus the three-analyst average estimate of 0.1%.
Average Balance - Total interest-earning assets: $41.01 billion versus the three-analyst average estimate of $40.85 billion.
Total Nonperforming Assets: $199.29 million compared to the $175.51 million average estimate based on two analysts.
Net Interest Income: $350.26 million compared to the $349.53 million average estimate based on four analysts.
Total Noninterest Income: $75.23 million compared to the $69.75 million average estimate based on four analysts.
Net interest income, tax equivalent (Non-GAAP): $350.89 million versus the three-analyst average estimate of $349.37 million.
Shares of SouthState have returned +26.9% over the past month versus the Zacks S&P 500 composite's +1.8% 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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SouthState (SSB) Reports Q2 Earnings: What Key Metrics Have to Say
SouthState (SSB - Free Report) reported $425.48 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.1%. EPS of $1.79 for the same period compares to $1.63 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $419.25 million, representing a surprise of +1.49%. The company delivered an EPS surprise of +16.99%, with the consensus EPS estimate being $1.53.
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 SouthState 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): 3.4% compared to the 3.4% average estimate based on four analysts.
- Efficiency Ratio: 57% compared to the 58.5% average estimate based on four analysts.
- Net charge-offs (recoveries) as a percentage of average loans (annualized): 0.1% versus the three-analyst average estimate of 0.1%.
- Average Balance - Total interest-earning assets: $41.01 billion versus the three-analyst average estimate of $40.85 billion.
- Total Nonperforming Assets: $199.29 million compared to the $175.51 million average estimate based on two analysts.
- Net Interest Income: $350.26 million compared to the $349.53 million average estimate based on four analysts.
- Total Noninterest Income: $75.23 million compared to the $69.75 million average estimate based on four analysts.
- Net interest income, tax equivalent (Non-GAAP): $350.89 million versus the three-analyst average estimate of $349.37 million.
View all Key Company Metrics for SouthState here>>>Shares of SouthState have returned +26.9% over the past month versus the Zacks S&P 500 composite's +1.8% 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.