NASDAQ$TRMK
Trustmark Corporation · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Trustmark's financial performance was impacted by the COVID-19 pandemic, with increased credit loss provisions and a voluntary early retirement program, but also benefited from positive mortgage servicing hedge ineffectiveness and growth in fee businesses.
Trustmark Corporation reported a net income of $22.2 million for Q1 2020, with diluted earnings per share of $0.35. The results were affected by a $27.4 million provision for credit losses due to the COVID-19 pandemic and a $4.4 million pre-tax charge for a voluntary early retirement program. Positive net mortgage servicing hedge ineffectiveness of $9.9 million partially offset these impacts.
- Net income totaled $22.2 million, with diluted earnings per share of $0.35.
- Provision and expense for credit losses totaled $27.4 million, primarily due to the COVID-19 pandemic.
- A one-time, pre-tax charge of $4.4 million was incurred related to a voluntary early retirement program.
- Positive net mortgage servicing hedge ineffectiveness of $9.9 million increased earnings.
Headline financials
Revenue & EPS history
Trustmark · Revenue · Quarterly
$169M
Revenue by segment
Trustmark · $24.1M total across 3 segments · Q3 2020
- Bank Card & Fees$8.84M+5.9%36.7%
- Wealth Management$7.68M-0.2%31.9%
- Service Charges$7.58M-31.5%31.4%
Forward guidance
While no specific forward guidance is provided, the report highlights a commitment to supporting customers and communities during the COVID-19 pandemic, maintaining a strong capital position, and focusing on profitable revenue growth.
Tailwinds
- Proactive response to the COVID-19 pandemic to support customers, associates, and communities.
- Branches continue to offer drive-thru service, and ATM and ITM networks remain accessible.
- Approximately 45% of Trustmark associates are working remotely.
- Working with customers to provide flexibility during uncertain circumstances.
- Participating in the SBA’s Paycheck Protection Program.
Headwinds
- Economic uncertainties related to the COVID-19 pandemic.
- Increased provision for credit losses due to the COVID-19 pandemic.
- Suspension of share repurchase program to maintain flexibility.
- Potential for continued volatility in the credit and financial markets.
- Potential impact of the COVID-19 pandemic on borrowers' financial performance.
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 Q1 2020
-0.2%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+1.5%
Avg return
30 days after
55%
38 / 69 earnings
Positive
+9.8%
Q1 2024
Best reaction
-14.1%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | -2.6% | -3.0% | |
| Q4 2025 | +2.3% | +4.5% | +3.5% | |
| Q3 2025 | -2.0% | -3.4% | +0.5% | |
| Q2 2025 | -1.2% | -1.6% | +2.7% | |
| Q1 2025 | +0.2% | -0.4% | +2.4% | |
| Q4 2024 | +2.4% | +1.1% | +0.2% | |
| Q3 2024 | +2.0% | +0.9% | +13.2% | |
| Q2 2024 | -1.5% | +3.9% | -7.4% | |
| Q1 2024 | +9.8% | +12.3% | +10.6% | |
| Q4 2023 | -1.6% | +0.4% | -4.4% | |
| Q3 2023 | -6.6% | -5.3% | +10.8% | |
| Q2 2023 | +6.5% | +8.5% | -1.9% | |
| Q1 2023 | +0.5% | +0.5% | -9.7% | |
| Q4 2022 | -14.1% | -13.8% | -9.4% | |
| Q3 2022 | +0.5% | +5.8% | +6.3% | |
| Q2 2022 | +3.8% | +5.9% | +7.6% | |
| Q1 2022 | -2.4% | -4.7% | -1.6% | |
| Q4 2021 | -3.2% | -4.2% | -7.9% | |
| Q3 2021 | -8.5% | -6.2% | -2.4% | |
| Q2 2021 | -1.9% | -2.0% | +5.0% | |
| Q1 2021 | -0.6% | -2.0% | +1.8% | |
| Q4 2020 | -7.1% | -10.2% | +2.1% | |
| Q3 2020 | -5.4% | -3.7% | +8.9% | |
| Q2 2020 | +5.3% | +0.0% | +6.9% | |
| Q1 2020 | +7.3% | +0.3% | -3.8% | |
| Q4 2019 | -2.3% | -3.7% | -14.7% | |
| Q3 2019 | -2.0% | -1.8% | -2.1% | |
| Q2 2019 | +8.7% | +10.6% | +5.4% | |
| Q1 2019 | +3.8% | +5.5% | -2.9% | |
| Q4 2018 | +1.6% | +4.1% | +18.2% | |
| Q3 2018 | -5.8% | -3.7% | +1.8% | |
| Q2 2018 | +0.0% | +0.6% | +2.3% | |
| Q1 2018 | +1.6% | +1.4% | +3.5% | |
| Q4 2017 | -1.5% | -3.6% | -4.6% | |
| Q3 2017 | +0.3% | +1.1% | -1.3% | |
| Q2 2017 | +0.1% | -1.1% | -6.6% | |
| Q1 2017 | +3.0% | +1.2% | -4.3% | |
| Q4 2016 | +2.5% | +2.1% | +3.2% | |
| Q3 2016 | +0.0% | -1.3% | +23.4% | |
| Q2 2016 | +1.9% | +2.2% | +9.5% | |
| Q1 2016 | +0.6% | — | — | |
| Q4 2015 | +4.6% | — | — | |
| Q3 2015 | +2.2% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | +2.0% | — | — | |
| Q4 2014 | -7.3% | — | — | |
| Q3 2014 | +2.5% | — | — | |
| Q2 2014 | +1.3% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | -3.9% | — | — | |
| Q3 2013 | +2.3% | — | — | |
| Q2 2013 | -0.9% | — | — | |
| Q1 2013 | +5.9% | — | — | |
| Q4 2012 | -3.3% | — | — | |
| Q3 2012 | -0.4% | — | — | |
| Q2 2012 | -2.3% | — | — | |
| Q1 2012 | +1.0% | — | — | |
| Q4 2011 | +0.3% | — | — | |
| Q3 2011 | -4.3% | — | — | |
| Q2 2011 | +0.3% | — | — | |
| Q1 2010 | -0.0% | — | — | |
| Q1 2011 | +1.7% | — | — | |
| Q4 2009 | +1.0% | — | — | |
| Q4 2010 | +1.0% | — | — | |
| Q4 2008 | +1.0% | — | — | |
| Q3 2009 | +0.3% | — | — | |
| Q3 2010 | +0.3% | — | — | |
| Q2 2009 | -6.2% | — | — | |
| Q2 2010 | -6.2% | — | — |
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