Pinnacle Financial Partners, Inc. (PNFP) reported quarterly earnings of $1.86 per share on July 25, 2022, exceeding the Zacks Consensus Estimate of $1.68 per share and marking an increase from $1.68 per share a year prior. The company’s revenues for the quarter reached $390.08 million, surpassing expectations by 7.91% compared to $331.43 million in the same quarter last year.
This quarterly report indicates a 10.71% earnings surprise and has shown consistency, as Pinnacle has outperformed consensus EPS estimates for the last four quarters. Despite this performance, the company’s shares have declined about 24.4% year-to-date, compared to a 19.6% drop in the S&P 500.
Looking ahead, the consensus EPS estimate for the next quarter stands at $1.92 on expected revenues of $387.54 million, while the forecast for the current fiscal year is $7.21 on revenues of $1.49 billion. The Banks – Southeast industry is currently ranked in the top 14% among Zacks industries, suggesting a favorable outlook overall.
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