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KeyCorp (KEY) Reports Q3 Earnings: What Key Metrics Have to Say
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KeyCorp (KEY - Free Report) reported $1.56 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 17.1%. EPS of $0.29 for the same period compares to $0.55 a year ago.
The reported revenue represents a surprise of +0.43% over the Zacks Consensus Estimate of $1.55 billion. With the consensus EPS estimate being $0.27, the EPS surprise was +7.41%.
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.
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 KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest margin - Proforma: 2% versus the six-analyst average estimate of 2.1%.
Average balance - Total earning assets: $171.52 billion versus $176.70 billion estimated by six analysts on average.
Net loan charge-offs to average loans: 0.2% compared to the 0.2% average estimate based on five analysts.
Cash Efficiency Ratio (non-GAAP): 70.3% compared to the 68.7% average estimate based on five analysts.
Nonperforming assets - Total: $471 million versus $462.67 million estimated by two analysts on average.
Tier 1 Risk-based Capital Ratio: 11.4% compared to the 10.8% average estimate based on two analysts.
Total Risk-based Capital Ratio: 13.8% versus the two-analyst average estimate of 12.8%.
Leverage Ratio: 8.9% versus the two-analyst average estimate of 9.2%.
Nonperforming loans at period-end: $455 million versus $437.13 million estimated by two analysts on average.
Service charges on deposit accounts: $69 million versus $71.18 million estimated by six analysts on average.
Corporate services income: $73 million versus the six-analyst average estimate of $85.96 million.
Trust and investment services income: $130 million compared to the $127.82 million average estimate based on six analysts.
Shares of KeyCorp have returned -3.3% over the past month versus the Zacks S&P 500 composite's -3% 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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KeyCorp (KEY) Reports Q3 Earnings: What Key Metrics Have to Say
KeyCorp (KEY - Free Report) reported $1.56 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 17.1%. EPS of $0.29 for the same period compares to $0.55 a year ago.
The reported revenue represents a surprise of +0.43% over the Zacks Consensus Estimate of $1.55 billion. With the consensus EPS estimate being $0.27, the EPS surprise was +7.41%.
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.
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 KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest margin - Proforma: 2% versus the six-analyst average estimate of 2.1%.
- Average balance - Total earning assets: $171.52 billion versus $176.70 billion estimated by six analysts on average.
- Net loan charge-offs to average loans: 0.2% compared to the 0.2% average estimate based on five analysts.
- Cash Efficiency Ratio (non-GAAP): 70.3% compared to the 68.7% average estimate based on five analysts.
- Nonperforming assets - Total: $471 million versus $462.67 million estimated by two analysts on average.
- Tier 1 Risk-based Capital Ratio: 11.4% compared to the 10.8% average estimate based on two analysts.
- Total Risk-based Capital Ratio: 13.8% versus the two-analyst average estimate of 12.8%.
- Leverage Ratio: 8.9% versus the two-analyst average estimate of 9.2%.
- Nonperforming loans at period-end: $455 million versus $437.13 million estimated by two analysts on average.
- Service charges on deposit accounts: $69 million versus $71.18 million estimated by six analysts on average.
- Corporate services income: $73 million versus the six-analyst average estimate of $85.96 million.
- Trust and investment services income: $130 million compared to the $127.82 million average estimate based on six analysts.
View all Key Company Metrics for KeyCorp here>>>Shares of KeyCorp have returned -3.3% over the past month versus the Zacks S&P 500 composite's -3% 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.