Latest news with #DavidTurner
Yahoo
24-06-2025
- Business
- Yahoo
RF Q1 Deep Dive: Uncertainty Weighs on Loan Growth as Deposits Hold Steady
Regional banking company Regions Financial (NYSE:RF) missed Wall Street's revenue expectations in Q1 CY2025 as sales rose 2.1% year on year to $1.78 billion. Its non-GAAP profit of $0.54 per share was 6.2% above analysts' consensus estimates. Is now the time to buy RF? Find out in our full research report (it's free). Revenue: $1.78 billion vs analyst estimates of $1.82 billion (2.1% year-on-year growth, 2.2% miss) Adjusted EPS: $0.54 vs analyst estimates of $0.51 (6.2% beat) Adjusted Operating Income: $662 million vs analyst estimates of $739.2 million (37.1% margin, 10.4% miss) Market Capitalization: $19.96 billion Regions Financial's first quarter results showed revenue growth but fell short of Wall Street's expectations, while adjusted earnings per share surpassed analyst estimates. Management attributed the mixed performance to customers adopting a wait-and-see approach amid economic uncertainty, especially regarding tariffs and regulatory changes. CEO John Turner explained, 'Clearly, the volatility and uncertainty have customers in sort of a wait-and-see mode.' The company's deposit base grew, supported by seasonal trends and customer preference for liquidity, but loan balances declined due to delayed investment decisions by clients and lower consumer loan production. Looking forward, management expects stable average loans and deposits for the remainder of the year, but acknowledges that the outlook depends heavily on clarity around tariffs and broader economic trends. CFO David Turner highlighted that net interest income could improve as 'fixed-rate loan and securities turnover in the prevailing rate environment and improving deposit cost trends will drive net interest income higher over the remainder of the year.' However, with capital markets activity still subdued and elevated net charge-offs anticipated in the first half of the year, the company is positioning for modest growth and disciplined expense management. Management identified client caution, lower loan demand, and stable deposit growth as key factors influencing Q1 results. Ongoing investments in talent and technology also shaped expense trends. Client investment delays: Commercial clients delayed new investments due to uncertainty about tariffs and regulatory policies, which reduced loan demand and impacted loan growth in priority markets. Deposit growth amid caution: Customer preference for liquidity led to higher average deposits, especially in money market offerings, as clients opted for safety during uncertain times. Capital markets slowdown: Weaker M&A, real estate capital markets, and loan syndication activity dragged on non-interest income, with management expecting this trend to persist until market conditions stabilize. Expense discipline and investments: Expense growth was managed through lower headcount and retirements, offsetting ongoing investments in high-growth markets and technology improvements, as noted by CFO David Turner. Asset quality and charge-offs: Net charge-offs rose, mainly from previously identified portfolios like office and transportation, but management believes reserves are sufficient and expects charge-offs to be front-loaded in the first half of the year before improving. Management's outlook hinges on resolving client uncertainty, improving loan demand, and maintaining expense discipline as key themes for the coming quarters. Loan and deposit stability: Regions expects average loans and deposits to remain stable for the year, contingent on greater clarity around tariffs and macroeconomic trends. Clients' investment decisions will be key to reviving loan growth. Fee revenue and capital markets: Fee revenue growth is likely to be restrained by subdued capital markets activity, particularly in M&A and loan syndications, though treasury and wealth management could offer some offsetting strength. Expense management and capital return: The company aims to maintain flat to modestly higher expenses, balancing continued investment in talent with cost savings from headcount reductions. Management indicated that if loan growth remains muted, capital will be used for share repurchases. In the coming quarters, our team will be monitoring (1) whether client investment activity resumes as macroeconomic clarity improves, (2) signs of a rebound in capital markets revenue, especially M&A and loan syndication, and (3) continued progress in deposit growth and expense control. Developments in tariff policies and regulatory actions will also be critical to watch. Regions Financial currently trades at $22.46, in line with $22.41 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it's free). Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Yahoo
01-05-2025
- Politics
- Yahoo
People behind bars work, too, but often they're denied basic rights
(Stock photo by) As workers around the world unite this May Day to celebrate hard-fought rights and demand justice in our workplaces, let us not forget those who are too often left out of these conversations: people in prison. People behind bars labor every day — cooking, cleaning, maintaining prison facilities, even fighting wildfires. Yet unlike other workers, they have few rights, are paid pennies or nothing at all, and are without access to the most basic human needs and at the mercy of others with little to no recourse. In Colorado, people in prison can be denied family visitation — calls, video chats, or in-person visits — if they choose not to participate in a prison work program. This practice is cruel, coercive, and completely out of step with the values May Day represents. The Right to Family and Community Connection Act, House Bill 25-1013, would enshrine the right to family visitation as a matter of law — one that cannot be stripped away for refusing to work. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX Prison labor is already a form of economic injustice. But when you tie a worker's ability to see their children or speak to a parent to their willingness to work under these conditions, it's not just economic coercion, it's inhumane. Coloradans — regardless of party — know that family isn't a reward. It's a lifeline. It's also one of the most powerful tools for rehabilitation. Research shows that people in prison who maintain strong family bonds are less likely to reoffend and more likely to successfully reintegrate into society. This isn't just smart public policy. It's basic humanity. We don't have to look far to see the human cost. David Turner, a 24-year-old father of two, was placed on Restrictive Privileges status for 'failure to work' — punished after being marked absent on days he wasn't scheduled and for a shift he missed while receiving medical care. For 43 days, David was confined 22 hours a day, cut off from his family — not even allowed to send letters to his children. As David put it, 'Getting out of prison and back to my family is very important to me, and knowing I can be kept in prison longer if I attempt to choose not to work coerces me to work against my will … I feel like a slave being forced to work against my will by CDOC. Everybody does.' No one should be forced to choose between enduring forced labor or losing all contact with the people they love. May Day reminds us that the dignity of labor must be fiercely protected — and that includes the dignity of those whose rights are denied and whose voices are often silenced. This May Day, let's extend our solidarity to all workers, including those behind prison walls. Let's fight for fair wages, safe conditions, and freedom from retaliation — and for the fundamental human right to stay connected to the people we love. Every person — no matter where they are – needs the right to stay connected to their loved ones without fear of retaliation or exploitation. The Right to Family and Community Connection Act would guarantee that right. SUPPORT: YOU MAKE OUR WORK POSSIBLE
RTÉ News
30-04-2025
- Politics
- RTÉ News
Calls for Sandymount cycle lane to be located off road
A meeting of a residents group in Sandymount has heard calls for any cycle lane for the area to be located off road as part of planned flood defence works and not located on the Strand Road reducing traffic to one lane, one way. There was standing room only at the Annual General meeting of the Sandymount and Merrion Residents Association (SAMRA) following a recent Court of Appeal decision that paves the way for Dublin City Council to proceed with plans for a cycleway on the road, which was first proposed during Covid-19 lockdowns in 2020. The majority of locals and public representatives who spoke, many of whom are cyclists, expressed their opposition to the plans, saying it would have an adverse impact on traffic in the area. SAMA chairman David Turner told the more than 150 attendees that Dublin City Council's proposals would result in thousands of cars that previously used Strand Road using narrow residential streets in Sandymount village. The group says this could result in parts of the area becoming 'rat runs' and that there are concerns that traffic projections for the area have not taken account of the opening of the Glass Bottle Site in Ringsend, which will have an estimated ten thousand extra people living and working in the area when construction is completed. The current population of Sandymount is around 7,000. Local TDs, Minister for Justice Jim O'Callaghan, Labour leader Ivana Bacik and Independent TD Eoin Hayes, along with a number of local Councillors, were among those who attended the meeting. Resident Audrey Handley said the water works that were carried out on Strand Road in recent times showed the major impact rerouting traffic had on the area and she said the issue of the cycle path is not over and done until locals got an off road solution. However, another resident, who had her six-week-old baby with her, said that if locals wait for a cycle lane to be built off road as part of flood defence works which are not expected to be constructed until at least 2029, the newborn baby in her arms would be in primary school before it would be ready. Green Party Councillor Hazel Chu told the meeting that she believed the area could "do both" by implementing a cycle lane on Strand Road while they await construction of an off road cycleway. She also made the point that Dublin City Council had yet to make a decision on a cycleway for the area but her contribution was met with some verbal opposition. Local resident David Timoney said that he was concerned that a whole generation of local children were not cycling because they were afraid to mix with cars on the Strand Road. However, another resident Chris Lysatt said that 80% of local children use roads other than the Strand Road to cycle to school so rerouting traffic to these areas would increase the risk to the majority of children in the area. Councillor Dermot Lacey of the Labour Party said that the Dublin City Council could have built the off road option if they had listened to Councillors a number of years ago, who he said had constantly suggested the off road option. He also said that it is shameful that it could take the OPW up to ten years to build flood defences in the area. Mr Lacey added that the recent court ruling meant the Dublin City Council now had the power to put a cycleway off road if they chose. Ms Bacik said the off-road option was the optimal approach but the difficulty is the delay in delivering it. She said a question had to be asked about why it would take so long.
Yahoo
18-04-2025
- Business
- Yahoo
Regions Financial Corp (RF) Q1 2025 Earnings Call Highlights: Strong Earnings Amid Economic ...
Quarterly Earnings: $465 million, resulting in earnings per share of $0.51. Adjusted Earnings: $487 million, with adjusted earnings per share of $0.54. Pre-Tax Pre-Provision Income: $745 million, a 21% increase year over year. Return on Tangible Common Equity: 18%. Average Loans: Relatively stable quarter over quarter; ending loans declined 1%. Average Consumer Loans: Decreased approximately 1% in the first quarter. Average Deposit Balances: Grew 1% linked quarter; ending balances increased 3%. Net Interest Income: Declined 3% linked quarter; projected to grow approximately 3% in the second quarter. Adjusted Non-Interest Income: Remained stable linked quarter. Adjusted Non-Interest Expense: Increased approximately 1% compared to the prior quarter. Provision Expense: Approximately equal to net charge-offs at $124 million. Allowance for Credit Losses Ratio: Increased 2 basis points to 1.81%. Common Equity Tier 1 Ratio: Estimated at 10.8%. Share Repurchases: $242 million executed during the quarter. Common Dividends: $226 million paid during the quarter. Warning! GuruFocus has detected 4 Warning Sign with RF. Release Date: April 17, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Regions Financial Corp (NYSE:RF) reported strong quarterly earnings of $465 million, with adjusted earnings of $487 million. The company achieved a 21% year-over-year increase in pre-tax pre-provision income, reaching $745 million. Regions Financial Corp (NYSE:RF) delivered a return on tangible common equity of 18%, the highest among peers for the last four years. The company has a robust capital position, with a common equity Tier 1 ratio of 10.8%, and strong organic capital generation. Regions Financial Corp (NYSE:RF) experienced growth in average deposit balances, which increased by 3% at the end of the quarter. Average loans declined by 1% at the end of the quarter, with a stable outlook for the full year 2025. Net interest income declined by 3% linked quarter, driven by lower loan balances and less origination fee activity. The capital markets business faced challenges, with lower M&A, real estate capital markets, and loan syndication activity. Provision expense was equal to net charge-offs at $124 million, with an increase in the allowance for credit losses ratio to 1.81%. The outlook for unemployment has increased, and there is an expectation for a pronounced slowdown in GDP growth, creating uncertainty for clients. Q: Can you provide insight into when customers might reengage with investments or strategic decisions, and how this might differ between commercial lending and capital markets? A: John Turner, CEO, noted that customer uncertainty due to market volatility and tariffs has led to a wait-and-see approach. Customers are optimistic but cautious, awaiting clarity on tariffs and regulatory changes. David Turner, CFO, added that lower interest rates could stimulate capital markets activity. Q: Regarding the lower expense growth rate for the year, how much is due to naturally lower costs versus actual cuts or delays in investments? A: David Turner, CFO, explained that lower headcount and retirements have offset seasonal increases in salaries and benefits. The company continues to invest in growth markets, managing costs by leveraging technology and controlling headcount in other areas. Q: Can you elaborate on the loan growth outlook amid customer uncertainty and any areas of growth? A: John Turner, CEO, mentioned that while pipelines are mixed, middle market and real estate pipelines are expanding. Customers are cautious due to tariff impacts, and line utilization remains flat as customers hold excess liquidity. Growth is expected in middle market and real estate sectors. Q: With a solid CET1 ratio, how do you view the pace of share buybacks given muted growth and economic outlook? A: David Turner, CFO, stated that with strong capital generation, the company plans to continue buybacks, especially if loan demand remains low. The focus is on supporting business growth and returning capital to shareholders through dividends and buybacks. Q: What is the outlook for net charge-offs and provisions, and how does this relate to identified problem credits? A: John Turner, CEO, indicated that charge-offs are expected to be higher in the first half of the year due to specific portfolios of interest. The provision is expected to align with charge-offs unless economic conditions worsen or loan growth occurs. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
