Zions (NASDAQ:ZION) earnings for first quarter of 2020 have ZION stock falling after markets closed on Monday. That’s due to its diluted earnings per share (EPS) of 4 cents missing Wall Street’s estimate of 56 cents. The company’s revenue of $281 million is also a far cry from analysts’ estimates of $681.67 million.
Now, let’s take a more thorough look at the most recent Zions earnings report.
- Diluted per-share earnings are down 96.15% from $1.04 in the same period of the year prior.
- Revenue for the quarter comes in 1.06% lower than the $284 million reported in the first quarter of 2019.
- The Zions earnings report also has it bringing in a net income of $14 million.
- That’s a 93.43% drop compared to the company’s net income of $213 million.
Harris Simmons, Chairman and CEO of Zions, said this about the ZION stock earnings report.
“In what has become a challenging environment, we are nevertheless pleased with many elements of the first quarter’s financial performance, including well-controlled operating expenses, which decreased 5% from last year; a net interest margin that remained relatively resilient when compared to the prior quarter; and very modest realized loan losses.”
Company leaders will be going over the Zions earnings report in a conference call today. That call will take place at 5:30 p.m. Eastern Time. The call is available via dialing on or a webcast.
ZION stock was down almost 1% after-hours Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.