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Here's What Key Metrics Tell Us About SouthState (SSB) Q3 Earnings
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For the quarter ended September 2024, SouthState (SSB - Free Report) reported revenue of $426.41 million, down 0.4% over the same period last year. EPS came in at $1.90, compared to $1.62 in the year-ago quarter.
The reported revenue represents a surprise of -1.06% over the Zacks Consensus Estimate of $430.98 million. With the consensus EPS estimate being $1.67, the EPS surprise was +13.77%.
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.
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 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% versus 3.5% estimated by four analysts on average.
Efficiency Ratio: 56.6% versus 57.5% estimated by four analysts on average.
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: $41.22 billion versus the three-analyst average estimate of $41.24 billion.
Total Nonperforming Assets: $190.96 million versus the two-analyst average estimate of $199.85 million.
Net Interest Income: $351.48 million versus $358.55 million estimated by four analysts on average.
Total Noninterest Income: $74.93 million versus the four-analyst average estimate of $72.42 million.
Net interest income, tax equivalent (Non-GAAP): $351.97 million versus $359.89 million estimated by three analysts on average.
Shares of SouthState have returned -0.1% over the past month versus the Zacks S&P 500 composite's +2.7% 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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Here's What Key Metrics Tell Us About SouthState (SSB) Q3 Earnings
For the quarter ended September 2024, SouthState (SSB - Free Report) reported revenue of $426.41 million, down 0.4% over the same period last year. EPS came in at $1.90, compared to $1.62 in the year-ago quarter.
The reported revenue represents a surprise of -1.06% over the Zacks Consensus Estimate of $430.98 million. With the consensus EPS estimate being $1.67, the EPS surprise was +13.77%.
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.
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 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% versus 3.5% estimated by four analysts on average.
- Efficiency Ratio: 56.6% versus 57.5% estimated by four analysts on average.
- 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: $41.22 billion versus the three-analyst average estimate of $41.24 billion.
- Total Nonperforming Assets: $190.96 million versus the two-analyst average estimate of $199.85 million.
- Net Interest Income: $351.48 million versus $358.55 million estimated by four analysts on average.
- Total Noninterest Income: $74.93 million versus the four-analyst average estimate of $72.42 million.
- Net interest income, tax equivalent (Non-GAAP): $351.97 million versus $359.89 million estimated by three analysts on average.
View all Key Company Metrics for SouthState here>>>Shares of SouthState have returned -0.1% over the past month versus the Zacks S&P 500 composite's +2.7% 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.