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KeyCorp (KEY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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KeyCorp (KEY - Free Report) reported $1.51 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 4.6%. EPS of $0.25 for the same period compares to $0.27 a year ago.
The reported revenue represents a surprise of -0.64% over the Zacks Consensus Estimate of $1.52 billion. With the consensus EPS estimate being $0.24, the EPS surprise was +4.17%.
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 KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest margin - Proforma: 2% versus 2.1% estimated by seven analysts on average.
Average balance - Total earning assets: $170.64 billion compared to the $169.79 billion average estimate based on seven analysts.
Book value at period end: $13.09 versus the six-analyst average estimate of $12.97.
Net loan charge-offs to average loans: 0.3% compared to the 0.3% average estimate based on six analysts.
Cash Efficiency Ratio (non-GAAP): 70.2% versus 71.8% estimated by six analysts on average.
Nonperforming assets - Total: $727 million compared to the $614.36 million average estimate based on three analysts.
Nonperforming loans at period-end: $710 million versus the three-analyst average estimate of $601.81 million.
Total Risk-based Capital Ratio: 14.7% versus the two-analyst average estimate of 14.2%.
Leverage Ratio: 9.1% versus the two-analyst average estimate of 9.4%.
Tier 1 Risk-based Capital Ratio: 12.2% compared to the 11.8% average estimate based on two analysts.
Total Noninterest Income: $627 million versus $624.47 million estimated by seven analysts on average.
Investment banking and debt placement fees: $126 million compared to the $133.94 million average estimate based on seven analysts.
Shares of KeyCorp have returned +19.4% over the past month versus the Zacks S&P 500 composite's +2.1% 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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KeyCorp (KEY) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
KeyCorp (KEY - Free Report) reported $1.51 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 4.6%. EPS of $0.25 for the same period compares to $0.27 a year ago.
The reported revenue represents a surprise of -0.64% over the Zacks Consensus Estimate of $1.52 billion. With the consensus EPS estimate being $0.24, the EPS surprise was +4.17%.
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 KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest margin - Proforma: 2% versus 2.1% estimated by seven analysts on average.
- Average balance - Total earning assets: $170.64 billion compared to the $169.79 billion average estimate based on seven analysts.
- Book value at period end: $13.09 versus the six-analyst average estimate of $12.97.
- Net loan charge-offs to average loans: 0.3% compared to the 0.3% average estimate based on six analysts.
- Cash Efficiency Ratio (non-GAAP): 70.2% versus 71.8% estimated by six analysts on average.
- Nonperforming assets - Total: $727 million compared to the $614.36 million average estimate based on three analysts.
- Nonperforming loans at period-end: $710 million versus the three-analyst average estimate of $601.81 million.
- Total Risk-based Capital Ratio: 14.7% versus the two-analyst average estimate of 14.2%.
- Leverage Ratio: 9.1% versus the two-analyst average estimate of 9.4%.
- Tier 1 Risk-based Capital Ratio: 12.2% compared to the 11.8% average estimate based on two analysts.
- Total Noninterest Income: $627 million versus $624.47 million estimated by seven analysts on average.
- Investment banking and debt placement fees: $126 million compared to the $133.94 million average estimate based on seven analysts.
View all Key Company Metrics for KeyCorp here>>>Shares of KeyCorp have returned +19.4% over the past month versus the Zacks S&P 500 composite's +2.1% 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.