Financial Performance - Total revenue for Q4 2024 was $1,986 million, representing a 4% increase from Q3 2024 and a slight decrease of 0.1% from Q4 2023[4] - Net income for Q4 2024 reached $401 million, up 5% from Q3 2024 and significantly higher than $189 million in Q4 2023, marking a 112% year-over-year increase[4] - Basic earnings per share for Q4 2024 were $0.83, an 8% increase from $0.77 in Q3 2024 and a 144% increase from $0.34 in Q4 2023[4] - Total revenue for Q4 2024 increased by $85 million (4%) compared to Q3 2024 but decreased by $2 million (—) from Q4 2023, totaling $1,986 million[7] - Net income for Q4 2024 was $401 million, an increase of $19 million (5%) from Q3 2024 and an increase of $212 million (112%) from Q4 2023[7] - Noninterest income (GAAP) for Q4 2024 was $574 million, an increase of 8% from Q4 2023, and total revenue (GAAP) was $1,986 million, up 4% from Q3 2024[31] - Net income (GAAP) for Q4 2024 reached $401 million, reflecting a 5% increase compared to Q3 2024, and net income available to common stockholders (GAAP) was $367 million, a 7% increase from Q3 2024[31] Expenses and Efficiency - Noninterest expense for Q4 2024 was $1,316 million, reflecting a 5% increase from Q3 2024 but a notable 18% decrease from $1,612 million in Q4 2023[4] - Noninterest expense (GAAP) decreased to $1,316 million in Q4 2024, down 18% from Q4 2023, contributing to a pre-provision profit (non-GAAP) of $684 million, a 4% increase from Q3 2024[31] - The efficiency ratio improved to 66.27% in Q4 2024, a significant decrease of 1,486 basis points from Q4 2023[5] - The underlying efficiency ratio improved to 65.36% in Q4 2024, compared to 66.27% in Q4 2023, indicating enhanced operational efficiency[32] Asset and Liability Management - Total assets decreased by $2,185 million (1%) from September 30, 2024, to $217,521 million as of December 31, 2024[8] - Total liabilities decreased by $1,507 million (1%) from September 30, 2024, totaling $193,267 million[8] - Stockholders' equity decreased by $678 million (3%) from September 30, 2024, totaling $24,254 million[8] - Total loans and leases decreased to $140,947 million in Q4 2024 from $147,969 million in Q4 2023, a reduction of $7,022 million or 4.7%[10] Credit Quality and Losses - The provision for credit losses in Q4 2024 was $162 million, a decrease of 6% from Q3 2024, indicating improved credit quality[4] - Total gross charge-offs for Q4 2024 increased to $238 million, a 16% increase compared to Q4 2023[24] - Total net charge-offs for 2024 reached $746 million, representing a 22% increase from $609 million in 2023[24] - The allowance for loan and lease losses decreased to $2,061 million in 4Q24, down 1% from $2,079 million in 3Q24 and down 2% from $2,098 million in 2023[26] Capital Ratios - CET1 capital ratio stood at 10.8% at the end of Q4 2024, showing stability compared to previous quarters[5] - Total capital ratio was 14.0% in Q4 2024, consistent with the previous quarter[5] - Common stockholders' equity decreased to $22,141 million as of December 31, 2024, a 3% decline from $22,820 million in September 2024[27] - Total tangible common equity at the end of 2024 was $14,246 million, down 5% from $14,931 million in September 2024[27] Segment Performance - Total revenue for Consumer Banking reached $1,507 million in Q4 2024, reflecting a 5% increase from Q3 2024 and a 12% increase from Q4 2023[13] - Net income for Consumer Banking in Q4 2024 was $358 million, up 9% from Q3 2024 and 33% from Q4 2023[13] - Total revenue for Commercial Banking was $696 million in Q4 2024, a 2% increase from Q3 2024 but a 7% decrease from Q4 2023[15] - Non-Core segment reported a net interest income loss of $21 million in Q4 2024, an improvement of 25% from Q3 2024[17] Tax and Regulatory - The effective income tax rate for Q4 2024 was 21.04%, an increase of 1,345 basis points compared to Q4 2023[5] - The effective income tax expense for Q4 2024 was $107 million, an increase of $19 million (22%) from Q3 2024[7]

Wall Street analysts expect Citizens Financial Group (CFG) to post quarterly earnings of $0.83 per share in its upcoming report, which indicates a year-over-year increase of 144.1%. Revenues are expected to be $1.96 billion, down 1.4% from the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Prior to a company's earnings releas ...

The market expects Citizens Financial Group (CFG) to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected t ...

It has been about a month since the last earnings report for Citizens Financial Group (CFG) . Shares have added about 10.6% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Citizens Financial Group due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Citizens Financial Q3 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Large accelerated filer ☑ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☐ Emerging growth company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From (Not Applicable) Commission File Number 001- ...

Citizens Financial Group, Inc. (NYSE:CFG) Q3 2024 Earnings Conference Call October 16, 2024 9:00 AM ET Company Participants Kristin Silberberg - Executive Vice President, Investor Relations Bruce Van Saun - Chairman and Chief Executive Officer John Woods - Chief Financial Officer Brendan Coughlin - Head of Consumer Banking Don McCree - Head of Commercial Banking Conference Call Participants Scott Siefers - Piper Sandler Matt O'Connor - Deutsche Bank John Pancari - Evercore Erika Najarian - UBS Manan Gosalia ...

Citizens Financial Group (CFG) reported $1.9 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.6%. EPS of $0.79 for the same period compares to $0.85 a year ago. The reported revenue represents a surprise of -1.91% over the Zacks Consensus Estimate of $1.94 billion. With the consensus EPS estimate being $0.79, the company has not delivered EPS surprise. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ho ...

Group 1 - Citizens Financial Group (CFG) reported quarterly earnings of $0.79 per share, matching the Zacks Consensus Estimate, but down from $0.85 per share a year ago [1] - The company posted revenues of $1.9 billion for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.91% and down from $2.01 billion year-over-year [2] - Over the last four quarters, Citizens Financial Group has not surpassed consensus EPS estimates and has topped consensus revenue estimates only once [2][1] Group 2 - Citizens Financial Group shares have increased approximately 31.2% since the beginning of the year, outperforming the S&P 500's gain of 21.9% [3] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for investors [4] - The current consensus EPS estimate for the upcoming quarter is $0.87 on revenues of $1.99 billion, and for the current fiscal year, it is $3.23 on revenues of $7.85 billion [7] Group 3 - The Zacks Industry Rank for Financial - Savings and Loan is in the top 43% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for Citizens Financial Group is currently mixed, resulting in a Zacks Rank 3 (Hold) for the stock, suggesting it will perform in line with the market [6]

Core Viewpoint - Analysts forecast a decline in quarterly earnings and revenues for Citizens Financial Group, indicating potential challenges in the company's financial performance [1][2]. Earnings and Revenue Estimates - Citizens Financial Group (CFG) is expected to report earnings of $0.79 per share, reflecting a year-over-year decline of 7.1% [1]. - Anticipated revenues are projected to be $1.94 billion, down 3.8% compared to the same quarter last year [1]. Revisions and Analyst Consensus - The consensus EPS estimate has been revised downward by 1.2% in the past 30 days, indicating a reassessment by analysts [2]. - Analysts emphasize the importance of earnings projection revisions as a predictor of investor behavior and stock price performance [3]. Key Financial Metrics - Book value per common share is estimated to reach $49.07, up from $44.75 a year ago [5]. - Net charge-offs are projected at $177.44 million, compared to $153 million in the same quarter last year [5]. - The consensus for Net Interest Margin is 2.8%, down from 3% a year ago [5]. - Return on average common equity is estimated at 6.6%, down from 7.5% [6]. - Efficiency Ratio is projected to be 65.9%, compared to 64.2% last year [6]. - Average Balances - Total interest-earning assets are expected to be $199.98 billion, slightly up from $199.59 billion a year ago [6]. Capital Ratios - Tangible book value per common share is expected to reach $31.32, up from $27.73 last year [7]. - Common Equity Tier 1 Capital Ratio is projected at 10.7%, compared to 10.4% a year ago [7]. - Tier 1 Leverage Ratio is estimated at 9.3%, down from 9.4% last year [8]. - Tier 1 Capital Ratio is expected to be 11.9%, up from 11.5% a year ago [8]. - Total Capital Ratio is projected at 13.9%, compared to 13.4% last year [9]. Market Performance - CFG shares have returned +4% over the past month, while the Zacks S&P 500 composite has changed by +5.4% [9]. - CFG holds a Zacks Rank 3 (Hold), suggesting it may mirror overall market performance in the near future [10].

Citizens Financial Group (CFG) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...