Synovus Financial Issues Revenue Outlook for 2024, 2025

MT Newswires Live

Dec 11, 2024

Synovus Financial (SNV) said Tuesday it expects adjusted Q4 revenue of between $565 million to $575 million while anticipating a 2% decline in full-year revenue, according to presentation materials for Wednesday's Goldman Sachs 2024 US Financial Services Conference.

The guidance assumes a Fed rate cut of 25 basis points in December, among other assumptions, according to the presentation materials attached to a regulatory filing.

Analysts polled by FactSet expect revenue of $564.8 million for Q4 and $1.97 billion for 2024.

For 2025, the company expects adjusted revenue growth of 3% to 7%, based among other factors on the assumption that the FOMC easing cycle continues with sequential cuts of 25 basis points until the target rate is back to 4.00%.

Analysts surveyed by FactSet are looking for 2025 revenue of $2.32 billion.

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