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Sep 30, 2023
Synovus Q3 2023 Earnings Report
Synovus's financial performance in Q3 2023 reflects agility and disciplined execution amid complex market dynamics.
Key Takeaways
Synovus Financial Corp. reported financial results for Q3 2023, with diluted earnings per share of $0.60 and adjusted diluted earnings per share of $0.84. The company completed sales of third-party consumer loans and medical office building loans, while total revenue declined by 5% year-over-year. Deposits increased, and the CET1 ratio rose to 10.13%.
Completed the sales of $338 million of third-party consumer loans and $1.2 billion of medical office building loans.
Total revenue of $550.3 million declined 5% compared to the third quarter 2022.
Total deposits increased $123.5 million sequentially, while core deposits grew $431.5 million.
The preliminary CET1 ratio of 10.13% increased 27 bps sequentially.
Revenue by Segment
Forward Guidance
Synovus is confidently looking forward to a strong close for 2023 and is optimistic about returning to a stronger growth orientation as they progress through 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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