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SouthState Corporation (SSB)
:SSB
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.65Last Year’s EPS
1.39Same Quarter Last Year
Moderate Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2018
|% Change Since: 3.50%
|Next Earnings Date:Jul 30, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive and negative aspects. While there was broad-based growth and stable asset quality, challenges such as narrowing NIM and increased deposit costs were noted. Progress in the merger with Independent Financial is a significant positive development.Company Guidance
During SouthState Corporation's Q3 2024 earnings call, the management provided a detailed update on various financial metrics and future guidance. The company reported a consistent quarter-over-quarter core profitability with a PPNR of $183 million. Total revenue and noninterest expenses both increased by $1 million. The net interest margin (NIM) slightly decreased by 4 basis points to 3.40%, while loan yields increased by 4 basis points. Loans grew at an annualized rate of 4%, with single-family residential and C&I loans experiencing the highest growth. Deposit costs increased by 10 basis points to 1.90%, with total deposits growing by 6% during the quarter. Looking forward, SouthState expects noninterest expenses to fall in the range of $245 million to $250 million in Q4. The company also highlighted its provision for credit losses, which resulted in a $7 million total release, reflecting continued strong asset quality. Additionally, SouthState is optimistic about its merger with Independent Financial, which is expected to enhance long-term shareholder value.Broad-Based Growth
SouthState Corporation reported growth in loans, deposits, revenue, and earnings per share for Q3 2024. Loan yields increased by 4 basis points, and loan growth was 4% annualized.
Stable Asset Quality
Asset quality metrics remained stable with net charge-offs at 7 basis points annualized, and non-performing assets declined by $8 million.
Capital Improvement
The TCE ratio grew to 8.9%, and CET1 increased to 12.5%. Tangible book value per share also grew by $3.36 to $51.26.
Progress with Independent Financial
The merger with Independent Financial is on track, with shareholder approval received and regulatory approval process progressing as planned.
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SSB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SSB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $96.16 | $97.57 | +1.47% |
| Jul 24, 2024 | $90.70 | $96.22 | +6.09% |
| Apr 25, 2024 | $77.59 | $76.59 | -1.29% |
| Jan 25, 2024 | $79.07 | $82.47 | +4.30% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does SouthState Corporation (SSB) report earnings?
SouthState Corporation (SSB) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is SouthState Corporation (SSB) earnings time?
SouthState Corporation (SSB) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SSB EPS forecast?
SSB EPS forecast for the fiscal quarter 2024 (Q4) is 1.65.
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