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The PNC Financial Services Group, Inc (PNC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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The PNC Financial Services Group, Inc (PNC - Free Report) reported $5.29 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 3.5%. EPS of $3.36 for the same period compares to $3.42 a year ago.
The reported revenue represents a surprise of -2.41% over the Zacks Consensus Estimate of $5.42 billion. With the consensus EPS estimate being $3.31, the EPS surprise was +1.51%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how The PNC Financial Services Group, Inc performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency ratio: 64% versus the seven-analyst average estimate of 61.51%.
Net interest margin: 2.79% versus 2.74% estimated by seven analysts on average.
Total interest-earning assets - Average balance: $506.22 billion versus $512.61 billion estimated by seven analysts on average.
Net charge-offs to average loans: 0.24% versus 0.27% estimated by six analysts on average.
Total nonperforming assets: $1.95 billion versus the six-analyst average estimate of $2.24 billion.
Total nonperforming loans: $1.91 billion versus the four-analyst average estimate of $2.28 billion.
Leverage Ratio: 8.8% versus the three-analyst average estimate of 8.65%.
Tier 1 risk-based ratio: 11.2% versus the three-analyst average estimate of 10.98%.
Total capital risk-based: 13% versus the two-analyst average estimate of 12.97%.
Net interest income - FTE: $3.55 billion versus the seven-analyst average estimate of $3.50 billion.
Total Noninterest Income: $1.78 billion versus the seven-analyst average estimate of $1.98 billion.
Capital markets and advisory: $213 million compared to the $275.19 million average estimate based on six analysts.
Shares of The PNC Financial Services Group, Inc have returned -1% over the past month versus the Zacks S&P 500 composite's +2.7% 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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The PNC Financial Services Group, Inc (PNC) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
The PNC Financial Services Group, Inc (PNC - Free Report) reported $5.29 billion in revenue for the quarter ended June 2023, representing a year-over-year increase of 3.5%. EPS of $3.36 for the same period compares to $3.42 a year ago.
The reported revenue represents a surprise of -2.41% over the Zacks Consensus Estimate of $5.42 billion. With the consensus EPS estimate being $3.31, the EPS surprise was +1.51%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how The PNC Financial Services Group, Inc performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency ratio: 64% versus the seven-analyst average estimate of 61.51%.
- Net interest margin: 2.79% versus 2.74% estimated by seven analysts on average.
- Total interest-earning assets - Average balance: $506.22 billion versus $512.61 billion estimated by seven analysts on average.
- Net charge-offs to average loans: 0.24% versus 0.27% estimated by six analysts on average.
- Total nonperforming assets: $1.95 billion versus the six-analyst average estimate of $2.24 billion.
- Total nonperforming loans: $1.91 billion versus the four-analyst average estimate of $2.28 billion.
- Leverage Ratio: 8.8% versus the three-analyst average estimate of 8.65%.
- Tier 1 risk-based ratio: 11.2% versus the three-analyst average estimate of 10.98%.
- Total capital risk-based: 13% versus the two-analyst average estimate of 12.97%.
- Net interest income - FTE: $3.55 billion versus the seven-analyst average estimate of $3.50 billion.
- Total Noninterest Income: $1.78 billion versus the seven-analyst average estimate of $1.98 billion.
- Capital markets and advisory: $213 million compared to the $275.19 million average estimate based on six analysts.
View all Key Company Metrics for The PNC Financial Services Group, Inc here>>>Shares of The PNC Financial Services Group, Inc have returned -1% over the past month versus the Zacks S&P 500 composite's +2.7% 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.