SouthState Q3 EPS of $2.30 Misses $2.40 Consensus as Revenue Slips 1.9%
SSB sits 22% above its 52-week low of $84.475.
Summary
SouthState posted Q3 adjusted EPS of $2.30, missing the $2.40 consensus and down from $2.58 a year ago. Revenue fell 1.9% to $685.4M, also short of the $690.8M analysts expected. Net income of $223.8M was down modestly from $230M in Q2, following the 8-K filed this evening. This breaks a streak of three straight beats (Dec, Mar, Jun quarters), and three analysts had already cut estimates in the last 30 days. Shares are up 9.0% year to date and closed at $102.78, with the median price target at $120.
At the time of this announcement, SSB was trading at $102.78 on NYSE in the Finance sector, with a market capitalization of approximately $10B. The 52-week trading range was $84.48 to $112.20. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.