SouthState (SSB) Q2 Earnings: What To Expect

Regional banking company SouthState (NYSE:SSB) will be reporting earnings this Thursday after the bell. Here’s what to expect.

SouthState beat analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $630.6 million, up 51.8% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ EPS estimates and an impressive beat of analysts’ net interest income estimates.

Is SouthState a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting SouthState’s revenue to grow 50.5% year on year to $640.3 million, a reversal from the 3.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.02 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. SouthState has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 1.4% on average.

Looking at SouthState’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. City Holding delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3%, and Texas Capital Bank reported revenues up 15.2%, topping estimates by 2.7%. Texas Capital Bank traded up 4.8% following the results.

Read our full analysis of City Holding’s results here and Texas Capital Bank’s results here.

There has been positive sentiment among investors in the regional banks segment, with share prices up 8.2% on average over the last month. SouthState is up 11.5% during the same time and is heading into earnings with an average analyst price target of $113.91 (compared to the current share price of $98.35).

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.