For the quarter ended March 2024, Truist Financial Corporation (TFC - Free Report) reported revenue of $4.82 billion, down 21% over the same period last year. EPS came in at $0.90, compared to $1.09 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.66 billion, representing a surprise of -14.92%. The company delivered an EPS surprise of +15.38%, with the consensus EPS estimate being $0.78.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Truist Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.9% versus the seven-analyst average estimate of 2.9%.
- Average balance - Total earning assets: $476.11 billion versus the six-analyst average estimate of $476.72 billion.
- Efficiency Ratio: 61.3% versus 64.1% estimated by five analysts on average.
- Net charge-offs as a percentage of average loans and leases: 0.6% versus the five-analyst average estimate of 0.6%.
- Total Nonperforming assets: $1.48 billion compared to the $1.61 billion average estimate based on five analysts.
- Total nonaccrual loans and leases: $1.42 billion versus $1.56 billion estimated by four analysts on average.
- Tier 1 Capital Ratio: 11.7% versus the three-analyst average estimate of 11.4%.
- Tier 1 Leverage Ratio: 9.4% versus the three-analyst average estimate of 9.2%.
- Total Capital Ratio: 13.9% versus 13.6% estimated by two analysts on average.
- Total Noninterest Income: $1.45 billion versus $2.21 billion estimated by seven analysts on average.
- Net interest income (FTE): $3.43 billion versus the six-analyst average estimate of $3.48 billion.
- Net Interest Income: $3.37 billion compared to the $3.43 billion average estimate based on six analysts.
View all Key Company Metrics for Truist Financial here>>>Shares of Truist Financial have returned -2.4% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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For the quarter ended March 2024, Truist Financial Corporation (TFC - Free Report) reported revenue of $4.82 billion, down 21% over the same period last year. EPS came in at $0.90, compared to $1.09 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.66 billion, representing a surprise of -14.92%. The company delivered an EPS surprise of +15.38%, with the consensus EPS estimate being $0.78.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Truist Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 2.9% versus the seven-analyst average estimate of 2.9%.
- Average balance - Total earning assets: $476.11 billion versus the six-analyst average estimate of $476.72 billion.
- Efficiency Ratio: 61.3% versus 64.1% estimated by five analysts on average.
- Net charge-offs as a percentage of average loans and leases: 0.6% versus the five-analyst average estimate of 0.6%.
- Total Nonperforming assets: $1.48 billion compared to the $1.61 billion average estimate based on five analysts.
- Total nonaccrual loans and leases: $1.42 billion versus $1.56 billion estimated by four analysts on average.
- Tier 1 Capital Ratio: 11.7% versus the three-analyst average estimate of 11.4%.
- Tier 1 Leverage Ratio: 9.4% versus the three-analyst average estimate of 9.2%.
- Total Capital Ratio: 13.9% versus 13.6% estimated by two analysts on average.
- Total Noninterest Income: $1.45 billion versus $2.21 billion estimated by seven analysts on average.
- Net interest income (FTE): $3.43 billion versus the six-analyst average estimate of $3.48 billion.
- Net Interest Income: $3.37 billion compared to the $3.43 billion average estimate based on six analysts.
View all Key Company Metrics for Truist Financial here>>>Shares of Truist Financial have returned -2.4% over the past month versus the Zacks S&P 500 composite's -4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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