Atlantic Union Bankshares Reports Mixed Q4 Earnings Results

Mixed earnings results from Atlantic Union Bankshares show net income rising in Q4 but declining for the year. This could lead to investor apprehension.

Date: 24-01-2025

AI Rating: 5

Net Income and Earnings Per Share (EPS): Atlantic Union Bankshares Corporation reported a net income of $54.8 million or $0.60 per share for the fourth quarter of fiscal 2024, marking a slight increase from $53.9 million in Q4 2023. However, for the full year, net income decreased to $197.3 million or $2.24 per share from $189.9 million or $2.53 per share in 2023, which could signal a decline in overall profitability.

Adjusted Operating Income: The company reported adjusted operating income for Q4 at $61.4 million, a rise from the previous year's $58.8 million. In contrast, the full year's adjusted operating income increased to $241.3 million, up from $221.2 million in 2023. However, the adjusted earnings per share for Q4 fell to $0.67 per share from $0.78 per share a year earlier, which could be discouraging for investors.

The stock price closed at $36.57, down 3.43%, indicating a negative market response, likely driven by concerns over the declining annual net income despite fourth-quarter gains.

Stocks: AUB