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Synovus (SNV) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

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Synovus Financial (SNV - Free Report) reported $564.72 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 2.6%. EPS of $1.23 for the same period compares to $0.84 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $557.26 million, representing a surprise of +1.34%. The company delivered an EPS surprise of +12.84%, with the consensus EPS estimate being $1.09.

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

  • Net interest margin, taxable equivalent: 3.2% versus the six-analyst average estimate of 3.2%.
  • Efficiency ratio - TE: 55.4% versus 55.2% estimated by six analysts on average.
  • Net Charge-Offs / Average Loans - Quarter: 0.3% versus 0.3% estimated by five analysts on average.
  • Average Balance - Total interest earning assets: $54.56 billion versus $54.93 billion estimated by five analysts on average.
  • Non-performing Loans (NPLs): $312.96 million versus $262.06 million estimated by three analysts on average.
  • Non-performing Assets (NPAs): $313.35 million versus the three-analyst average estimate of $263.28 million.
  • Total non-interest revenue: $123.98 million versus $119.83 million estimated by six analysts on average.
  • Net Interest Income: $440.74 million versus $439.94 million estimated by five analysts on average.
  • Net interest income taxable equivalent: $442.13 million versus the five-analyst average estimate of $439.08 million.
  • Mortgage banking income: $4.03 million versus $4.13 million estimated by three analysts on average.
  • Capital markets income: $10.28 million versus $8.66 million estimated by three analysts on average.
  • Brokerage revenue: $20.81 million versus $20.26 million estimated by three analysts on average.
View all Key Company Metrics for Synovus here>>>

Shares of Synovus have returned +5.7% over the past month versus the Zacks S&P 500 composite's +3.5% 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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