Earnings Preview: The South Financial Group

Jul.22.08 | About: South Financial (TSFG)

The South Financial Group (TSFG) is expected to report Q2 earnings after market close, Tuesday July 22, with a conference call scheduled for 10:00 a.m. ET on Wednesday, July 23.

Guidance

Analysts are looking for EPS of (17c) on revenue of $122.83M. The consensus range for EPS is (42c) to 16c, while the consensus range for revenue is $119.2M to $127M, according to First Call.

In May, the bank issued $250M of new preferred stock and slashed its quarterly dividend to 1c per share in order to bolster its capital position. Investors will be trying to determine from the bank's results and conference call whether South Financial needs any additional capital. Last week, BUYINS.NET placed South Financial Group on its naked short threshold list.