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Truist Financial Corporation (TFC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, Truist Financial Corporation (TFC - Free Report) reported revenue of $6.1 billion, up 14.6% over the same period last year. EPS came in at $1.09, compared to $1.23 in the year-ago quarter.
The reported revenue represents a surprise of +0.25% over the Zacks Consensus Estimate of $6.09 billion. With the consensus EPS estimate being $1.13, the EPS surprise was -3.54%.
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 Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net interest margin: 3.17% compared to the 3.25% average estimate based on seven analysts.
Average balance - Total earning assets: $499.15 billion versus $492.24 billion estimated by six analysts on average.
Net charge-offs as a percentage of average loans and leases: 0.37% compared to the 0.37% average estimate based on five analysts.
Efficiency Ratio: 60.5% compared to the 58.2% average estimate based on five analysts.
Total Nonperforming assets: $1.26 billion compared to the $1.39 billion average estimate based on four analysts.
Total nonaccrual loans and leases: $1.19 billion compared to the $1.33 billion average estimate based on three analysts.
Tier 1 Capital Ratio: 10.6% versus the three-analyst average estimate of 10.59%.
Tier 1 Leverage Ratio: 8.5% versus 8.48% estimated by three analysts on average.
Total Noninterest Income: $2.23 billion versus the seven-analyst average estimate of $2.17 billion.
Net Interest Income: $3.87 billion compared to the $3.91 billion average estimate based on seven analysts.
Net interest income (FTE): $3.92 billion compared to the $3.95 billion average estimate based on six analysts.
Lending related fees: $106 million compared to the $93.08 million average estimate based on five analysts.
Shares of Truist Financial Corporation have returned +7.1% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Truist Financial Corporation (TFC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, Truist Financial Corporation (TFC - Free Report) reported revenue of $6.1 billion, up 14.6% over the same period last year. EPS came in at $1.09, compared to $1.23 in the year-ago quarter.
The reported revenue represents a surprise of +0.25% over the Zacks Consensus Estimate of $6.09 billion. With the consensus EPS estimate being $1.13, the EPS surprise was -3.54%.
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 Corporation performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net interest margin: 3.17% compared to the 3.25% average estimate based on seven analysts.
- Average balance - Total earning assets: $499.15 billion versus $492.24 billion estimated by six analysts on average.
- Net charge-offs as a percentage of average loans and leases: 0.37% compared to the 0.37% average estimate based on five analysts.
- Efficiency Ratio: 60.5% compared to the 58.2% average estimate based on five analysts.
- Total Nonperforming assets: $1.26 billion compared to the $1.39 billion average estimate based on four analysts.
- Total nonaccrual loans and leases: $1.19 billion compared to the $1.33 billion average estimate based on three analysts.
- Tier 1 Capital Ratio: 10.6% versus the three-analyst average estimate of 10.59%.
- Tier 1 Leverage Ratio: 8.5% versus 8.48% estimated by three analysts on average.
- Total Noninterest Income: $2.23 billion versus the seven-analyst average estimate of $2.17 billion.
- Net Interest Income: $3.87 billion compared to the $3.91 billion average estimate based on seven analysts.
- Net interest income (FTE): $3.92 billion compared to the $3.95 billion average estimate based on six analysts.
- Lending related fees: $106 million compared to the $93.08 million average estimate based on five analysts.
View all Key Company Metrics for Truist Financial Corporation here>>>Shares of Truist Financial Corporation have returned +7.1% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.