Simmons First National Corporation (NASDAQ:SFNC) reported its second quarter earnings results on Tuesday 21st July 2020 before market open.
The banking products and services provider, reported $ 0.54 income per share for the quarter. Included in second quarter 2020 results were $3.0 million in net after-tax merger-related, early retirement program and branch right-sizing costs as well as a $1.6 million after-tax gain associated with the sale of branches.
On adjusted basis, Simmons First National Corporation reported income for the quarter of $ 0.55 per share, beat the consensus estimate of $ 0.33 income per share by $ 0.22 or 66.67 percent.
The quarterly earnings lowered 6.90 percent compared with the same quarter last year.
The firm had revenue of $ 213.91 million for the quarter, compared to the consensus estimate of $ 204.98 million. The revenues outshined analysts estimates by $ 8.93 million or 4.36 percent.
The financial report showed revenues increased 12.96 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
George A. Makris, Jr., chairman and CEO of Simmons First National Corporation, said, Our associates at Simmons Bank have done an amazing job of adapting to the changes that have occurred over the past four months. We continue to operate in an uncertain environment, and we will continue to adjust as necessary. We have consolidated various operations to provide capacity for continued service to our customers and communities.
