Cadence Bancorporation (NYSE:CADE) reported its second quarter earnings results on Wednesday 22nd July 2020 before market open.
The reported $ 0.45 loss per share for the quarter, missed the consensus estimate of $ 0.12 income per share by $ 0.57 or 475 percent.
The firm had revenue of $ 184.66 million for the quarter, compared to the consensus estimate of $ 188.47 million. The revenues fell short of analysts estimates by $ 3.81 million or 2.02 percent.
The financial report showed revenues dropped 4.08 percent versus second quarter of last year.
Analysts estimates are from Thompson Reuters, exclude one time gain or loss
Paul B. Murphy, Jr., Chairman and Chief Executive Officer, stated, This quarter, we again spent a great deal of time critically reviewing our portfolios to ensure we are fully reflecting the realities of the environment. While the trajectory of the pandemic and its impact on the economy remain uncertain, we are very confident that our risk management and robust capital position will allow Cadence to exit this crisis in a strong position.
