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Compared to Estimates, Truist Financial Corporation (TFC) Q4 Earnings: A Look at Key Metrics
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For the quarter ended December 2023, Truist Financial Corporation (TFC - Free Report) reported revenue of $5.7 billion, down 8.2% over the same period last year. EPS came in at $0.81, compared to $1.30 in the year-ago quarter.
The reported revenue represents a surprise of +1.10% over the Zacks Consensus Estimate of $5.64 billion. With the consensus EPS estimate being $0.88, the EPS surprise was -7.95%.
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 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 the seven-analyst average estimate of 2.9%.
Average balance - Total earning assets: $481.35 billion versus the six-analyst average estimate of $487.03 billion.
Efficiency Ratio: 180.4% versus the five-analyst average estimate of 62.2%.
Net charge-offs as a percentage of average loans and leases: 0.6% versus the five-analyst average estimate of 0.6%.
Total Nonperforming assets: $1.49 billion versus the five-analyst average estimate of $1.63 billion.
Total nonaccrual loans and leases: $1.43 billion compared to the $1.57 billion average estimate based on four analysts.
Tier 1 Capital Ratio: 13.7% compared to the 11.2% average estimate based on three analysts.
Tier 1 Leverage Ratio: 9.3% versus 9% estimated by three analysts on average.
Total Capital Ratio: 13.7% versus 13.3% estimated by two analysts on average.
Total Noninterest Income: $2.16 billion versus the seven-analyst average estimate of $2.17 billion.
Net interest income (FTE): $3.60 billion versus the six-analyst average estimate of $3.52 billion.
Net Interest Income: $3.54 billion versus $3.48 billion estimated by five analysts on average.
Shares of Truist Financial Corporation have remained unchanged over the past month versus the Zacks S&P 500 composite's +0.6% 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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Compared to Estimates, Truist Financial Corporation (TFC) Q4 Earnings: A Look at Key Metrics
For the quarter ended December 2023, Truist Financial Corporation (TFC - Free Report) reported revenue of $5.7 billion, down 8.2% over the same period last year. EPS came in at $0.81, compared to $1.30 in the year-ago quarter.
The reported revenue represents a surprise of +1.10% over the Zacks Consensus Estimate of $5.64 billion. With the consensus EPS estimate being $0.88, the EPS surprise was -7.95%.
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 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 the seven-analyst average estimate of 2.9%.
- Average balance - Total earning assets: $481.35 billion versus the six-analyst average estimate of $487.03 billion.
- Efficiency Ratio: 180.4% versus the five-analyst average estimate of 62.2%.
- Net charge-offs as a percentage of average loans and leases: 0.6% versus the five-analyst average estimate of 0.6%.
- Total Nonperforming assets: $1.49 billion versus the five-analyst average estimate of $1.63 billion.
- Total nonaccrual loans and leases: $1.43 billion compared to the $1.57 billion average estimate based on four analysts.
- Tier 1 Capital Ratio: 13.7% compared to the 11.2% average estimate based on three analysts.
- Tier 1 Leverage Ratio: 9.3% versus 9% estimated by three analysts on average.
- Total Capital Ratio: 13.7% versus 13.3% estimated by two analysts on average.
- Total Noninterest Income: $2.16 billion versus the seven-analyst average estimate of $2.17 billion.
- Net interest income (FTE): $3.60 billion versus the six-analyst average estimate of $3.52 billion.
- Net Interest Income: $3.54 billion versus $3.48 billion estimated by five analysts on average.
View all Key Company Metrics for Truist Financial Corporation here>>>Shares of Truist Financial Corporation have remained unchanged over the past month versus the Zacks S&P 500 composite's +0.6% 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.