Regions Beats Estimate Despite Tax Act Charge



Regions Financial announced Q4/17 and full year 2017 earnings of $318 million and $1,193 million, respectively, were up from $278 million and $1,094 million a year earlier. These marked increases of 14.4% and 9.0%, respectively. Earnings per share of $0.27 was higher than the expected EPS of $0.26 as forecasted by analysists polled by Thomson Reuters.

In connection with income tax reform, the company said it incurred a $29 million tax-related charge associated primarily with the revaluation of its net deferred income tax assets.

The adjusted net interest margin for full-year 2017 of 3.33% was up 19 basis points compared to full-year 2016.

“These results reflect a strong fourth quarter and end to 2017 as our teams made clear progress in executing Regions’ strategic plan to deliver greater value for our customers and shareholders,” said Grayson Hall,
chairman and CEO. “As we look ahead to our 2018 priorities, we are moving forward with Regions’ Simplify and Grow initiative, which will further position Regions for sustainable, long-term growth. As part of this effort, we are conducting a fresh, comprehensive review of the company with the goal of consistently improving the experience customers have with Regions. We are identifying ways to streamline processes and organizational structure while expediting product and service enhancements that make it easier for people to bank with us.”

Hall added, “Earlier this month, we were also pleased to announce new investments in our associates, our products and services, and our communities as a result of the savings we expect from federal tax reform. These investments, including a more competitive minimum hourly wage and greater support for product innovation, economic development, revenue growth and more, are all key to helping Regions carry out its mission and create shared value for our customers, our associates, our communities and our shareholders.”


Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com