NASDAQ$FULT

Fulton Financial Corp · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Reported a decrease in net income compared to the previous quarter, but solid operating earnings with deposit and loan growth were achieved.

Fulton Financial Corporation reported net income available to common shareholders of $69.5 million, or $0.42 per diluted share, for Q3 2023. This represents a decrease of $7.5 million, or 9.7%, compared to Q2 2023. However, operating earnings were solid, with deposit and loan growth, and the net interest margin was maintained.

  • Net income available to common shareholders decreased by 9.7% compared to the previous quarter.
  • Operating earnings were solid with deposit and loan growth.
  • Net interest margin was maintained from the previous quarter.
  • Net interest income increased slightly compared to the previous quarter.

Headline financials

Total Revenue

$218M

Previous: $275M-20.6%
EPS (adj)

$0.43

Previous: $0.48-10.4%
Net interest margin

3.4%

Previous: 3.5%-4.0%
Efficiency ratio

61.5%

Previous: 57.8%+6.4%
Tangible common equity ratio

6.8%

Previous: 6.7%+1.5%
Net Income

$72.1M

Previous: $70.9M+1.7%
Operating Income

$88.8M

Previous: $177M-49.8%
Gross Profit

$269M

Previous: $264M+2.1%
Cash & Equivalents

$420M

Previous: $529M-20.5%
Total Assets

$27.4B

Previous: $26.1B+4.7%
Stock-Based Comp

$3.05M

Previous: $3.79M-19.6%

Revenue & EPS history

Fulton Financial · Revenue · Quarterly

$218M

Q3 2023-20.6%vs Q3 2022
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Forward guidance

This press release may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2023

Historical avgQ3 2023

+0.1%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+2.8%

Avg return

30 days after

46%

32 / 69 earnings

Positive

+9.7%

Q2 2024

Best reaction

-9.5%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.2%-0.5%-1.9%
Q4 2025+2.6%-0.6%+9.2%
Q3 2025-1.5%+0.4%+0.4%
Q2 2025-1.4%-1.0%+3.4%
Q1 2025-0.4%-1.8%+13.5%
Q4 2024-1.1%-1.4%-3.5%
Q3 2024+2.9%-0.3%+15.7%
Q2 2024+9.7%+9.2%-1.0%
Q1 2024-2.1%+1.3%+18.0%
Q4 2023-2.6%+1.4%+0.6%
Q3 2023+0.3%-2.3%+14.4%
Q2 2023+8.7%+7.8%+6.7%
Q1 2023-4.9%-6.9%-14.4%
Q4 2022-9.5%-7.1%+2.1%
Q3 2022-1.1%-1.8%+2.3%
Q2 2022+9.7%+9.5%+22.0%
Q1 2022+2.6%+1.8%-6.2%
Q4 2021-2.1%-5.6%-4.0%
Q3 2021+6.4%+4.9%+4.3%
Q2 2021+3.7%+2.0%+4.0%
Q1 2021-1.0%+1.1%+0.8%
Q4 2020+0.6%+1.9%+2.5%
Q3 2020+8.5%+10.7%+25.6%
Q2 2020+3.7%+4.1%-0.2%
Q1 2020-5.0%-2.2%-1.2%
Q4 2019-0.5%-0.2%-23.3%
Q3 2019+0.9%+1.7%+2.2%
Q2 2019+1.7%+2.7%-4.0%
Q1 2019+2.5%+1.2%+3.6%
Q4 2018+0.2%+1.1%+1.0%
Q3 2018+5.3%+2.4%+4.8%
Q2 2018+1.5%+5.4%+7.2%
Q1 2018-2.8%-2.8%-0.8%
Q4 2017-0.3%-2.7%+1.3%
Q3 2017-4.2%-3.9%-7.0%
Q2 2017-2.6%-4.8%-10.8%
Q1 2017+3.5%+6.3%+0.0%
Q4 2016-3.5%-3.7%+1.6%
Q3 2016+3.9%+4.2%+23.2%
Q2 2016-0.9%-0.9%+1.2%
Q1 2016+1.9%
Q4 2015+2.7%
Q3 2015+4.5%
Q2 2015-2.6%
Q1 2015+1.7%
Q4 2014-3.6%
Q3 2014+4.4%
Q2 2014-2.6%
Q1 2014+2.7%
Q4 2013+0.2%
Q3 2013+0.0%
Q2 2013+2.5%
Q1 2013-4.3%
Q4 2012-0.4%
Q3 2012-2.5%
Q2 2012-1.4%
Q1 2012-0.3%
Q4 2011+0.1%
Q3 2011-6.3%
Q2 2011-6.0%
Q1 2010+0.6%
Q1 2011+3.0%
Q4 2009-2.8%
Q4 2010-2.8%
Q4 2008-2.8%
Q3 2009-3.8%
Q3 2010-3.8%
Q2 2010-1.3%
Q2 2009-1.3%

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