Regions Financial (RF) Q1 2024 Earnings Report

Regions Financial generated solid top-line revenue in Q1 2024, supported by resilient fee income and capital markets activity, even as net interest income faced pressure from higher funding costs and deposit remixing. Reported revenue was $2.287B with EPS of $0.37, while adjusted results showed stronger topline resilience (revenue of $1.8B on an adjusted basis) despite lingering macro uncertainty. Management framed Q1 as the high-water mark for certain expenses for the year, with adjusted noninterest expenses up 6% QoQ but still guided to ~$4.1B for 2024, and expected operational losses around $100M for the year. The quarter featured a step-down in net interest income (NII) and a modest NIM decline, but real positives in fee-based income and a robust capital return program.