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Truist Financial Corporation (TFC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Truist Financial Corporation (TFC - Free Report) reported $5.67 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 3%. EPS of $0.84 for the same period compares to $1.24 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.67 billion, representing a surprise of -0.04%. The company delivered an EPS surprise of +2.44%, with the consensus EPS estimate being $0.82.
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 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% versus 2.8% estimated by seven analysts on average.
Average balance - Total earning assets: $488.79 billion versus the six-analyst average estimate of $497.61 billion.
Efficiency Ratio: 66.1% versus the five-analyst average estimate of 64.3%.
Net charge-offs as a percentage of average loans and leases: 0.5% versus 0.5% estimated by five analysts on average.
Total Nonperforming assets: $1.58 billion versus the four-analyst average estimate of $1.75 billion.
Total nonaccrual loans and leases: $1.53 billion compared to the $1.67 billion average estimate based on four analysts.
Tier 1 Capital Ratio: 11.4% versus 11.1% estimated by three analysts on average.
Tier 1 Leverage Ratio: 9.2% compared to the 8.8% average estimate based on three analysts.
Total Capital Ratio: 13.5% versus 13.3% estimated by two analysts on average.
Total Noninterest Income: $2.11 billion versus the seven-analyst average estimate of $2.19 billion.
Net Interest Income: $3.56 billion compared to the $3.48 billion average estimate based on six analysts.
Net interest income (FTE): $3.62 billion versus the six-analyst average estimate of $3.54 billion.
Shares of Truist Financial Corporation have returned +1.3% 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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Truist Financial Corporation (TFC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Truist Financial Corporation (TFC - Free Report) reported $5.67 billion in revenue for the quarter ended September 2023, representing a year-over-year decline of 3%. EPS of $0.84 for the same period compares to $1.24 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $5.67 billion, representing a surprise of -0.04%. The company delivered an EPS surprise of +2.44%, with the consensus EPS estimate being $0.82.
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 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% versus 2.8% estimated by seven analysts on average.
- Average balance - Total earning assets: $488.79 billion versus the six-analyst average estimate of $497.61 billion.
- Efficiency Ratio: 66.1% versus the five-analyst average estimate of 64.3%.
- Net charge-offs as a percentage of average loans and leases: 0.5% versus 0.5% estimated by five analysts on average.
- Total Nonperforming assets: $1.58 billion versus the four-analyst average estimate of $1.75 billion.
- Total nonaccrual loans and leases: $1.53 billion compared to the $1.67 billion average estimate based on four analysts.
- Tier 1 Capital Ratio: 11.4% versus 11.1% estimated by three analysts on average.
- Tier 1 Leverage Ratio: 9.2% compared to the 8.8% average estimate based on three analysts.
- Total Capital Ratio: 13.5% versus 13.3% estimated by two analysts on average.
- Total Noninterest Income: $2.11 billion versus the seven-analyst average estimate of $2.19 billion.
- Net Interest Income: $3.56 billion compared to the $3.48 billion average estimate based on six analysts.
- Net interest income (FTE): $3.62 billion versus the six-analyst average estimate of $3.54 billion.
View all Key Company Metrics for Truist Financial Corporation here>>>Shares of Truist Financial Corporation have returned +1.3% 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.