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Truist Financial (TFC) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

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For the quarter ended June 2024, Truist Financial Corporation (TFC - Free Report) reported revenue of $4.97 billion, down 16.1% over the same period last year. EPS came in at $0.91, compared to $0.95 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $4.87 billion, representing a surprise of +1.89%. The company delivered an EPS surprise of +8.33%, with the consensus EPS estimate being $0.84.

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.

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 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: 3% compared to the 3% average estimate based on seven analysts.
  • Average balance - Total earning assets: $473.67 billion versus $478.26 billion estimated by six analysts on average.
  • Book Value Per Share(BVPS): $42.71 versus the six-analyst average estimate of $42.96.
  • Total Nonperforming assets: $1.48 billion compared to the $1.57 billion average estimate based on five analysts.
  • Net charge-offs as a percentage of average loans and leases: 0.6% compared to the 0.7% average estimate based on five analysts.
  • Total nonaccrual loans and leases: $1.42 billion compared to the $1.56 billion average estimate based on four analysts.
  • Tier 1 Leverage Ratio: 10.5% versus 10.3% estimated by three analysts on average.
  • Tier 1 Capital Ratio: 13.2% compared to the 12.8% average estimate based on three analysts.
  • Total Capital Ratio: 15.4% versus the two-analyst average estimate of 15%.
  • Total Noninterest Income: -$5.21 billion versus $1.43 billion estimated by six analysts on average.
  • Net Interest Income: $3.53 billion compared to the $3.46 billion average estimate based on six analysts.
  • Net interest income (FTE): $3.63 billion versus the six-analyst average estimate of $3.50 billion.
View all Key Company Metrics for Truist Financial here>>>

Shares of Truist Financial have returned +15.3% over the past month versus the Zacks S&P 500 composite's +0.4% 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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