Truist (TFC) Q1 Earnings Top on Higher Fee Income, Costs Dip [Yahoo! Finance]
Truist Financial Corporation (TFC)
Last truist financial corporation earnings: 4/20 05:45 am
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Source: Yahoo! Finance
The figure in the reported quarter excludes the FDIC special assessment charges and accelerated Truist Insurance Holdings (“TIH”) equity compensation expense. The figure also grew 12.5% year over year. Results benefited from higher non-interest income and a decline in expenses. Also, provisions fell slightly in the quarter. However, a decrease in net interest income (NII) due to higher funding costs and lower average loan balance was the undermining factor. Net income available to common shareholders (GAAP basis) was $1.09 billion or 81 cents per share, up from $1.07 billion or 80 cents per share in the prior-year quarter. Our estimate for the metric was $1.01 billion. Revenues & Expenses Decline Total quarterly revenues were $4.87 billion, down 8.8% year over year. The top line also lagged the Zacks Consensus Estimate of $5.66 billion. Tax-equivalent NII decreased 12.6% to $3.43 billion. The fall was due to a rise in funding costs and lower earning assets. Our estimate for
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News
- Boys & Girls Clubs of America Names Bill Rogers, Chairman & CEO of Truist, New Board of Governors Chair-Elect [Yahoo! Finance]Yahoo! Finance
- UPDATE 2-Truist sells nearly $28 bln of low-yield investments [Yahoo! Finance]Yahoo! Finance
- Truist completes sale of Truist Insurance Holdings and executes strategic balance sheet repositioning [Yahoo! Finance]Yahoo! Finance
- Truist completes previously announced sale of Truist Insurance Holdings to investor group led by Stone Point Capital and CD&R [Yahoo! Finance]Yahoo! Finance
- Truist completes previously announced sale of Truist Insurance Holdings to investor group led by Stone Point Capital and CD&RPR Newswire
TFC
Earnings
- 4/22/24 - Beat
TFC
Sec Filings
- 5/7/24 - Form 8-K
- 4/29/24 - Form 4
- 4/26/24 - Form 8-K
- TFC's page on the SEC website