Home BancShares Q3 revenue rises on net interest income strength
HOMB•Home BancShares reported Q3 revenue of $288.4 million, below analyst expectations of $294.27 million, while adjusted EPS of $0.65 beat expectations of $0.64. The company repurchased 1.3 million shares and raised its dividend.
1. Quarterly results
Home BancShares said strong net interest income generation and lower credit loss expense drove its Q3 results. Revenue growth reflected continued strength in net interest income and its banking operations, while decreased interest expense reflected improved funding costs.
2. Capital and outlook
The company repurchased 1.3 million shares in Q3 and raised its dividend. It did not provide specific guidance for future quarters or the full year.
