For the quarter ended March 2024, Truist Financial Corporation (TFC) reported revenue of $4.82 billion, down 21% over the same period last year. EPS came in at $0.90, compared to $1.09 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $5.66 billion, representing a surprise of -14.92%. The company delivered an EPS surprise of +15.38%, with the consensus EPS estimate being $0.78.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company’s financial health.
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.
ADVERTISEMENT
Here is how Truist Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
-
Net interest margin: 2.9% versus the seven-analyst average estimate of 2.9%.
-
Average balance – Total earning assets: $476.11 billion versus the six-analyst average estimate of $476.72 billion.
-
Efficiency Ratio: 61.3% versus 64.1% estimated by five analysts on average.
-
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: $1.48 billion compared to the $1.61 billion average estimate based on five analysts.
-
Total nonaccrual loans and leases: $1.42 billion versus $1.56 billion estimated by four analysts on average.
-
Tier 1 Capital Ratio: 11.7% versus the three-analyst average estimate of 11.4%.
-
Tier 1 Leverage Ratio: 9.4% versus the three-analyst average estimate of 9.2%.
-
Total Capital Ratio: 13.9% versus 13.6% estimated by two analysts on average.
-
Total Noninterest Income: $1.45 billion versus $2.21 billion estimated by seven analysts on average.
-
Net interest income (FTE): $3.43 billion versus the six-analyst average estimate of $3.48 billion.
-
Net Interest Income: $3.37 billion compared to the $3.43 billion average estimate based on six analysts.
View all Key Company Metrics for Truist Financial here>>>
Shares of Truist Financial have returned -2.4% over the past month versus the Zacks S&P 500 composite’s -4% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Truist Financial Corporation (TFC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Source: ca.finance.yahoo.com
