NASDAQ$SPFI

South Plains Financial Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Reported financial results for the third quarter of 2022.

South Plains Financial reported net income of $15.5 million and diluted earnings per share of $0.86 for the third quarter of 2022. Loan growth was strong at 17.0% annualized, driven by both community and metropolitan markets. The company also repurchased 366 thousand shares of common stock during the quarter.

  • Net income for the third quarter of 2022 was $15.5 million.
  • Diluted earnings per share for the third quarter of 2022 was $0.86.
  • Loans held for investment grew 17.0% annualized during the third quarter of 2022.
  • The Company repurchased 366 thousand shares of common stock in the third quarter of 2022.

Headline financials

Total Revenue

$56M

Previous: $57M-1.6%
EPS (adj)

$0.86

Previous: $0.82+4.9%
Net Interest Margin

3.7%

Previous: 3.6%+3.4%
Efficiency Ratio

66.4%

Previous: 66.5%-0.1%
Nonperforming Assets to Total Assets

0.2%

Previous: 0.3%-40.6%
Allowance for Credit Losses to Total Loans Held for Investment

1.5%

Previous: 1.8%-16.5%
Net Charge-offs to Average Loans Outstanding

-0.1%

Previous: 0.0%-433.3%
Yield on Loans

5.1%

Previous: 5.0%+2.6%
Capital Expenditures

-$3.29M

Previous: -$2.32M-42.0%
Free Cash Flow

$12.2M

Previous: $12.9M-5.5%
Net Income

$15.5M

Previous: $15.2M+1.8%
Operating Income

$44.7M

Previous: $49.8M-10.3%
Gross Profit

$55.3M

Previous: $57M-3.0%
Cash & Equivalents

$330M

Previous: $328M+0.7%
Total Assets

$3.99B

Previous: $3.77B+5.8%
Stock-Based Comp

$689K

Previous: $403K+71.0%

Revenue & EPS history

South Plains Financial · Revenue · Quarterly

$56M

Q3 2022-1.6%vs Q3 2021
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Revenue by segment

South Plains Financial · $11M total across 3 segments · Q2 2023

  • Mortgage Banking Activities
    $5.26M-39.3%
  • Bank Card Services and Interchange Fees
    $4.04M+16.2%
  • Service Charges on Deposits
    $1.75M

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 2022

Historical avgQ3 2022

+0.5%

Avg return

Earnings day

-0.0%

Avg return

5 days after

+1.8%

Avg return

30 days after

55%

18 / 33 earnings

Positive

+5.9%

Q1 2021

Best reaction

-8.6%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-1.0%-9.0%-7.7%
Q4 2025-2.0%+0.8%+3.4%
Q3 2025+0.8%-5.8%-0.5%
Q2 2025-2.4%-0.4%+0.0%
Q1 2025+1.4%+1.4%+4.7%
Q4 2024+5.4%+3.7%-3.1%
Q3 2024-1.6%+0.6%+14.9%
Q2 2024-0.5%+7.5%+2.7%
Q1 2024-3.0%-3.0%+1.4%
Q4 2023+2.0%-4.7%-8.6%
Q3 2023+2.4%+4.2%+5.2%
Q2 2023+3.0%+5.1%+3.2%
Q1 2023+1.6%-0.4%+9.3%
Q4 2022+1.5%+1.2%-3.3%
Q3 2022-0.8%+2.4%+5.4%
Q2 2022+5.5%+6.3%+10.8%
Q1 2022-4.1%-6.0%-6.0%
Q4 2021+0.3%-1.5%-2.2%
Q3 2021+2.6%+4.2%+8.5%
Q2 2021-0.2%-2.5%-2.8%
Q1 2021+5.9%+7.2%+8.8%
Q4 2020-2.9%-2.2%-1.3%
Q3 2020-0.8%+0.9%+29.7%
Q2 2020+5.4%+2.3%+7.7%
Q1 2020-8.6%-10.4%-5.7%
Q4 2018+4.2%-2.4%-22.6%
Q4 2019+4.2%-2.4%-22.6%
Q3 2018+4.6%+9.5%+13.9%
Q3 2019+3.9%+6.1%+17.9%
Q2 2018-5.4%-3.1%+2.4%
Q2 2019+0.1%-1.4%-9.4%
Q1 2018-2.3%-4.4%+2.2%
Q1 2019-2.3%-4.4%+2.2%

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