Regions Financial (RF-PE) Q3 2024 Earnings Report

- Revenue: $2.33B in Q3 2024, QoQ +1.0%, YoY -0.09%.
- Gross Profit: $1.678B; Gross margin 71.97%.
- Operating Income: $608M; Operating margin ~26.1%.
- Net Income: $490M; Net income margin ~21.03%.
- EPS: $0.49; Weighted average diluted shares ~918M.
- NII momentum: Net interest income up 3% QoQ driven by deposit stability and asset-yield expansion.
- Noninterest income (adjusted): +9% QoQ, with gains in service charges, capital markets, and wealth management.
- Expense: Adjusted noninterest expense +4% QoQ; full-year 2024 guidance for expenses ~ $4.25B.
- Credit quality: NCOs 48 bps of avg loans; ACL ratio up 1 bp to 1.79%; NPLs 85 bps; charge-offs expected toward the upper end of 40–50 bps for 2024.
- Capital & liquidity: Estimated CET1 ratio 10.6%; adjusted CET1 including AOCI ~9.1%; cash and short-term investments ~$36.39B; total assets ~$157.43B; net debt negative ~$3.01B; dividends paid $229M; share repurchases $101M.
- Guidance highlights: 2024 adjusted noninterest income $2.45B–$2.50B; NII trajectory guided to ~3.60% margin opportunity in 2025 with a fourth quarter around the mid-3.50s; positive operating leverage anticipated in 2025.