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Truist Financial (TFC) Reports Q1 Earnings: What Key Metrics Have to Say

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.

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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.

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