Regions Financial (RF) FY2023 results: revenue $7.6 billion, up 5.0% on the year
Regions Financial Corp. (RF) reported revenue of $7.6 billion for fiscal 2023, the year ended 31 December 2023, up 5.0% on the year before. Net income was $2.1 billion, down 7.6%, and diluted earnings per share $2.11. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$7.6 billion
+5.0% on the year
FY2016FY2023
Operating margin
2.8%
0.8% a year earlier
FY2016FY2023
Net income
$2.1 billion
-7.6% on the year
FY2016FY2023
Diluted EPS
$2.11
-7.5% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
2,308
3,102
3,030
-25.6%
Cash from investing
-1,607
-12,941
-2,865
Cash from financing
-5,127
-8,345
11,290
Depreciation and amortisation
236
353
371
-33.1%
Share-based compensation
61.0
n/a
n/a
Buybacks
252
230
467
+9.6%
Dividends paid
787
663
608
+18.7%
Dividend per share
$0.88
$0.74
$0.65
+18.9%
Diluted shares, weighted
938m
942m
963m
-0.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
17,429
15,947
18,326
+9.3%
Non-controlling interest
64.0
4.0
0.0
+1,500.0%
Deposits
127,788
131,743
139,072
-3.0%
Short-term borrowings
0.0
0.0
n/a
Debt
2,330
2,284
2,407
+2.0%
Other liabilities
4,583
5,242
3,133
-12.6%
Total liabilities and equity
152,194
155,220
162,938
-1.9%
Fixed assets
1,642
1,718
1,814
-4.4%
Goodwill
5,733
5,733
5,744
0.0%
Intangible assets
205
249
305
-17.7%
Securities held for sale or to maturity
28,858
28,734
29,380
+0.4%
Loans
96,803
95,545
86,305
+1.3%
Cash and equivalents
6,801
11,227
29,411
-39.4%
Other assets
12,152
12,014
9,979
+1.1%
Total assets
152,194
155,220
162,938
-1.9%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.