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The PNC Financial Services Group, Inc (PNC) Reports Q4 Earnings: What Key Metrics Have to Say
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The PNC Financial Services Group, Inc (PNC - Free Report) reported $5.36 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 7%. EPS of $3.16 for the same period compares to $3.49 a year ago.
The reported revenue represents a surprise of +1.58% over the Zacks Consensus Estimate of $5.28 billion. With the consensus EPS estimate being $2.99, the EPS surprise was +5.69%.
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 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:
Total interest-earning assets - Average balance: $513.32 billion versus the seven-analyst average estimate of $513.21 billion.
Net interest margin: 2.7% versus 2.6% estimated by seven analysts on average.
Efficiency ratio: 76% compared to the 63.5% average estimate based on seven analysts.
Net charge-offs to average loans: 0.2% versus 0.3% estimated by six analysts on average.
Total nonperforming assets: $2.22 billion versus $2.44 billion estimated by six analysts on average.
Total nonperforming loans: $2.18 billion versus the four-analyst average estimate of $2.54 billion.
Tier 1 risk-based ratio: 11.3% compared to the 11.2% average estimate based on three analysts.
Leverage Ratio: 8.7% versus the three-analyst average estimate of 8.9%.
Total capital risk-based: 13.2% versus 13.3% estimated by two analysts on average.
Net interest income - FTE: $3.44 billion compared to the $3.39 billion average estimate based on seven analysts.
Total Noninterest Income: $1.96 billion compared to the $1.92 billion average estimate based on seven analysts.
Other income: $138 million versus the six-analyst average estimate of $172.64 million.
Shares of The PNC Financial Services Group, Inc have returned -1.6% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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The PNC Financial Services Group, Inc (PNC) Reports Q4 Earnings: What Key Metrics Have to Say
The PNC Financial Services Group, Inc (PNC - Free Report) reported $5.36 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 7%. EPS of $3.16 for the same period compares to $3.49 a year ago.
The reported revenue represents a surprise of +1.58% over the Zacks Consensus Estimate of $5.28 billion. With the consensus EPS estimate being $2.99, the EPS surprise was +5.69%.
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 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:
- Total interest-earning assets - Average balance: $513.32 billion versus the seven-analyst average estimate of $513.21 billion.
- Net interest margin: 2.7% versus 2.6% estimated by seven analysts on average.
- Efficiency ratio: 76% compared to the 63.5% average estimate based on seven analysts.
- Net charge-offs to average loans: 0.2% versus 0.3% estimated by six analysts on average.
- Total nonperforming assets: $2.22 billion versus $2.44 billion estimated by six analysts on average.
- Total nonperforming loans: $2.18 billion versus the four-analyst average estimate of $2.54 billion.
- Tier 1 risk-based ratio: 11.3% compared to the 11.2% average estimate based on three analysts.
- Leverage Ratio: 8.7% versus the three-analyst average estimate of 8.9%.
- Total capital risk-based: 13.2% versus 13.3% estimated by two analysts on average.
- Net interest income - FTE: $3.44 billion compared to the $3.39 billion average estimate based on seven analysts.
- Total Noninterest Income: $1.96 billion compared to the $1.92 billion average estimate based on seven analysts.
- Other income: $138 million versus the six-analyst average estimate of $172.64 million.
View all Key Company Metrics for The PNC Financial Services Group, Inc here>>>Shares of The PNC Financial Services Group, Inc have returned -1.6% over the past month versus the Zacks S&P 500 composite's +1.6% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.