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 $200 million, or $1.34 per share, for the fourth quarter ended Dec. 31. That compares with $116 million, or 78 cents per share, for the same quarter a year earlier.
Net interest income totaled $627 million, up 8 percent. Total deposits were $76.2 billion, up 2 percent. Customer deposits, excluding brokered deposits, totaled $71.2 billion, up 1 percent.
For the full fiscal year, net earnings applicable to common shareholders was $737 million, or $4.95 per share. That compares with $648 million, or $4.35 per share, for the prior year.
“We’re pleased with the continued improvement in the financial performance demonstrated by our fourth-quarter results,” Harris H. Simmons, chairman and CEO, said in announcing the results. “Adjusted taxable-equivalent revenue increased 9 percent relative to year-ago levels, while adjusted noninterest expense increased 4 percent, resulting in a 19 percent increase in adjusted pre-provision net revenue.
“Net loan losses were higher in the quarter, at an annualized rate of 0.24 percent, with two-thirds of the net loss amount attributable to a single commercial and industrial credit. At the same time, nonperforming loans decreased 18 percent relative to the third quarter, to 0.50 percent of total loans. While classified loans have continued to increase, primarily in the commercial real estate portfolio, strong collateral and guarantor support mitigate the risk of significant defaults and losses in this portfolio.
“We’re optimistic that the coming year will produce sustained growth, continued improvement in our net interest margin, and increased profitability.”
Sportsman’s Warehouse
Sportsman’s Warehouse Holdings Inc., based in West Jordan, reported a net loss of $400,000, or 1 cent per share, for the 2024 third quarter ended Nov. 2. That compares with a loss of $1.3 million, or 4 cents per share, for the same quarter a year earlier.
Sales in the most recent quarter totaled $324.3 million, down from $340.6 million in the prior-year quarter.
Sportsman’s Warehouse is an outdoor specialty retailer.
“Despite a pressured consumer and complex macroeconomic environment, we focused our efforts on driving sales and achieved growth in our fishing, camping and gift bar categories during the quarter,” Paul Stone, president and CEO, said in announcing the results.
“We continue to make progress on our business reset initiatives with a focus on improved in-stocks, in-store and online customer experience and our ‘Great Gear/Great Service’ program.”
Breeze
Breeze Airways, based in Salt Lake City, reported its first full quarter of operating profit in the 2024 fourth quarter ended Dec. 31. Revenue totaled $200 million.
The company did not provide other financial details for the quarter or full fiscal year, except to note that revenue in 2024 was over $680 million.
Breeze began flying in May 2021 and operates more than 200 year-round and seasonal routes to 66 cities in 30 states. Its first month of operating profit was March 2024.
“This milestone is a major accomplishment for Breeze and a strong testament to the hard work, dedication and determination of our more than 2,000 incredible team members,” David Neeleman, founder and CEO, said of the fourth-quarter operating profit. “In under four years, we have managed to grow and expand Breeze at an unprecedented rate while establishing a robust presence in dozens of underserved markets across the U.S.”