CORPORATE FINANCIAL REPORTS 11-1-21

The following are recent financial reports as posted by selected Utah corporations:

Zions 

Zions Bancorporation NA, based in Salt Lake City, reported net earnings applicable to common shareholders of $234 million, or $1.45 per share, for the third quarter. That compares with $167 million, or $1.01 per share, for the same quarter a year earlier.

Zions operates in 11 western states.

“We are pleased with the quarter’s financial results,” Harris H. Simmons, chairman and CEO, said in announcing the results. “Following several quarters of weak loan demand, we’re particularly encouraged by the loan growth we reported during the quarter, which, excluding PPP loans, was 5.6 percent on an annualized basis.

“We also reported continued strong deposit growth at an annualized pace of 9.3 percent. Credit outcomes remained strong, with net recoveries at an annualized 0.01 percent of total loans, and one of the lowest gross charge-off rates in a number of years. These positive outcomes, together with an improving economic outlook, produced a $46 million reversal of loss reserves into income,” he said.

“We’re optimistic that, despite lingering supply chain issues and a tight labor market, the economy seems poised for continued growth over the next several quarters as, thanks to a great deal of government stimulus, consumers and most businesses are emerging from the pandemic in relatively strong condition.”

Qualtrics

Qualtrics, based in Provo, reported a net loss of $286 million, or 56 cents per share, for the third quarter ended Sept. 30. That compares with a loss of $85.7 million, or 20 cents per share, for the same quarter a year earlier.

Revenue in the quarter totaled $271.6 million, up from $192.8 million in the year-earlier quarter.

Qualtrics is focused on experience management.

“Q3 was another outstanding quarter for Qualtrics, and our leadership position has never been stronger as we continue to innovate and define the category we created,” Zig Serafin, CEO, said in announcing the results. “Companies in every industry are accelerating their experience transformations, and they’re increasingly choosing Qualtrics to build critical relationships with their customers and employees.”