Compared to Estimates, South Plains Financial (SPFI) Q2 Earnings: A Look at Key Metrics
South Plains Financial (SPFI) reported $81.69 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 46%. EPS of $0.55 for the same period compares to $0.88 a year ago.
The reported revenue represents a surprise of +76.83% over the Zacks Consensus Estimate of $46.2 million. With the consensus EPS estimate being $0.62, the EPS surprise was -11.29%.
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 South Plains Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency ratio: 49.39% versus 66.72% estimated by two analysts on average.
Net Interest Margin: 3.65% compared to the 3.68% average estimate based on two analysts.
Net charge-offs to average loans: 0.05% versus 0.11% estimated by two analysts on average.
Total interest-earning assets: $3.83 billion versus $3.76 billion estimated by two analysts on average.
Net Interest Income: $34.58 million compared to the $34.27 million average estimate based on two analysts. The reported number represents a change of -6.8% year over year.
Net Interest Income (FTE): $34.88 million compared to the $34.42 million average estimate based on two analysts.
Total Noninterest Income: $47.11 million versus $11.91 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +150.1% change.
View all Key Company Metrics for South Plains Financial here>>>
Shares of South Plains Financial have returned +11.8% over the past month versus the Zacks S&P 500 composite's +4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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South Plains Financial, Inc. (SPFI) : Free Stock Analysis Report
