BNY Mellon expects more severance charges in 2018, shares down [Reuters]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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US:NYSE Investor Relations:
bnymellon.com/us/en/investor-relations/index.jsp
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Source: Reuters
BNY Mellon expects more severance charges in 2018, shares down | Reuters Reuters Staff 2 Min Read (Reuters) - Bank of New York Mellon Corp ( BK.N ) expects to book more severance charges in 2018, its chief executive said, as the custodian bank tries to cut costs and streamline its businesses. Shares fell 4.2 percent to $55.43 in early trading on Thursday, after BNY Mellon recorded $246 million in severance and litigation charges in its fourth-quarter earnings report. The severance charges in the quarter is mainly related to changes in senior management and in its U.S. asset management business, CEO Charles Scharf said on a post-earnings call. The bank also recorded a benefit of $427 million related to the new federal tax laws. Excluding tax benefit of 41 cents and charges of 24 cents, the custodian bank reported a profit of 91 cents, in-line with analysts’ expectation, according to Thomson Reuters I/B/E/S. “The impact of the lower tax rate would be almost entirely offset by actions
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BK
Earnings
- 4/16/24 - Beat
BK
Sec Filings
- 4/19/24 - Form 4
- 4/19/24 - Form 4
- 4/19/24 - Form 4
- BK's page on the SEC website