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Sep 30, 2022
Synovus Q3 2022 Earnings Report
Synovus reported strong third-quarter earnings driven by increased productivity, deeper client relationships, and prudent expense management.
Key Takeaways
Synovus Financial Corp. reported a strong third quarter with diluted earnings per share of $1.33, up from $1.21 in 3Q21. Total revenue increased by 16% year-over-year to $582.2 million, driven by strong loan growth and higher interest rates. Pre-provision net revenue was up 24% year-over-year, and credit quality remained solid.
Net income available to common shareholders was $194.8 million, or $1.33 per diluted share, up sequentially and compared to the prior year.
Total revenue increased to $582.2 million, driven by strong loan growth and higher interest rates.
Pre-provision net revenue increased to $288.2 million, up 24% compared to the prior year.
Period-end loans increased by $1.37 billion sequentially, with growth diversified across asset classes and commercial business lines.
Revenue by Segment
Forward Guidance
Synovus is committed to its path forward by investing in core and new business initiatives while prioritizing credit, capital, and liquidity management.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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