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The PNC Financial Services Group, Inc (PNC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2023, The PNC Financial Services Group, Inc (PNC - Free Report) reported revenue of $5.6 billion, up 19.4% over the same period last year. EPS came in at $3.98, compared to $3.29 in the year-ago quarter.
The reported revenue represents a surprise of +0.06% over the Zacks Consensus Estimate of $5.6 billion. With the consensus EPS estimate being $3.60, the EPS surprise was +10.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how The PNC Financial Services Group, Inc performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency ratio: 59% compared to the 59.98% average estimate based on six analysts.
Net interest margin: 2.84% versus 2.9% estimated by six analysts on average.
Total interest-earning assets - Average balance: $511.78 billion versus the six-analyst average estimate of $507.04 billion.
Net charge-offs to average loans: 0.24% versus 0.25% estimated by five analysts on average.
Total nonperforming assets: $2.05 billion versus $2.15 billion estimated by five analysts on average.
Total nonperforming loans: $2.01 billion versus the three-analyst average estimate of $2.20 billion.
Total Noninterest Income: $2.02 billion versus the six-analyst average estimate of $1.99 billion.
Net interest income - FTE: $3.62 billion versus $3.64 billion estimated by six analysts on average.
Other income: $258 million compared to the $226.45 million average estimate based on five analysts.
Asset management and brokerage: $356 million compared to the $346.38 million average estimate based on five analysts.
Residential and commercial mortgage: $177 million versus the five-analyst average estimate of $150.19 million.
Capital markets and advisory: $262 million versus $315.92 million estimated by five analysts on average.
Shares of The PNC Financial Services Group, Inc have returned -6.7% over the past month versus the Zacks S&P 500 composite's +7.7% 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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The PNC Financial Services Group, Inc (PNC) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2023, The PNC Financial Services Group, Inc (PNC - Free Report) reported revenue of $5.6 billion, up 19.4% over the same period last year. EPS came in at $3.98, compared to $3.29 in the year-ago quarter.
The reported revenue represents a surprise of +0.06% over the Zacks Consensus Estimate of $5.6 billion. With the consensus EPS estimate being $3.60, the EPS surprise was +10.56%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how The PNC Financial Services Group, Inc performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency ratio: 59% compared to the 59.98% average estimate based on six analysts.
- Net interest margin: 2.84% versus 2.9% estimated by six analysts on average.
- Total interest-earning assets - Average balance: $511.78 billion versus the six-analyst average estimate of $507.04 billion.
- Net charge-offs to average loans: 0.24% versus 0.25% estimated by five analysts on average.
- Total nonperforming assets: $2.05 billion versus $2.15 billion estimated by five analysts on average.
- Total nonperforming loans: $2.01 billion versus the three-analyst average estimate of $2.20 billion.
- Total Noninterest Income: $2.02 billion versus the six-analyst average estimate of $1.99 billion.
- Net interest income - FTE: $3.62 billion versus $3.64 billion estimated by six analysts on average.
- Other income: $258 million compared to the $226.45 million average estimate based on five analysts.
- Asset management and brokerage: $356 million compared to the $346.38 million average estimate based on five analysts.
- Residential and commercial mortgage: $177 million versus the five-analyst average estimate of $150.19 million.
- Capital markets and advisory: $262 million versus $315.92 million estimated by five analysts on average.
View all Key Company Metrics for The PNC Financial Services Group, Inc here>>>Shares of The PNC Financial Services Group, Inc have returned -6.7% over the past month versus the Zacks S&P 500 composite's +7.7% 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.