Synovus beats Q2 revenue, earnings estimates; raises 2025 guidance
Overview
Synovus Q2 revenue beats analyst expectations, per LSEG data
Adjusted EPS rises 28%, exceeding analysts' estimates, per LSEG data
Co raises full-year 2025 earnings guidance, citing strategic confidence
Outlook
Synovus raises full-year 2025 earnings guidance, without giving specific details
Result Drivers
LOAN GROWTH - Funded loan production surged 60% year-over-year, driving 8% annualized loan growth, per CEO Kevin Blair
CREDIT QUALITY - Improved credit quality across all categories, with non-performing loan and asset ratios improving, per company report
NON-INTEREST REVENUE - Increase in non-interest revenue driven by higher core banking fees and wealth management income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $593.70 mln | $585.80 mln (14 Analysts) |
Q2 Adjusted EPS | Beat | $1.48 | $1.25 (19 Analysts) |
Q2 EPS | $1.48 | ||
Q2 Net Interest Income | $459.56 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Synovus Financial Corp is $58.00, about 8.8% above its July 16 closing price of $52.87
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago
Press Release: