The PNC Financial Services Group, Inc. (PNC - Free Report) is scheduled to report third-quarter 2017 results on Oct 13, before the opening bell. Its revenues and earnings are projected to grow year over year.
Before we discuss why an earnings beat might also be in store and what could influence the results, let’s take a look at how the company performed in the prior quarter.
PNC Financial’s second-quarter 2017 results improved primarily due to growth in loan balances and decline in provision for loan losses. These factors also helped it in surpassing the Zacks Consensus Estimate. However, the positives were partially offset by higher expenses.
The earnings beat translated into improved price performance. Over the last three months, shares of PNC Financial have gained 7.5% compared with 3.4% growth recorded by the industry.
Notably, PNC Financial delivered positive earnings surprises in each of the trailing four quarters, with an impressive average beat of 5.1%.
PNC Financial Services Group, Inc. (The) Price and EPS Surprise