Financial Performance - Citizens Financial Group (CFG) reported revenue of $1.99 billion for the quarter ended December 2024, a decrease of 0.1% year-over-year, but a surprise of +1.29% over the Zacks Consensus Estimate of $1.96 billion [1] - Earnings per share (EPS) for the quarter was $0.85, significantly higher than $0.34 in the same quarter last year, with an EPS surprise of +2.41% compared to the consensus estimate of $0.83 [1] Key Metrics - Total interest-earning assets averaged $196.61 billion, slightly below the average estimate of $197.05 billion [4] - Net charge-offs were reported at $189 million, close to the average estimate of $190.95 million [4] - Net Interest Margin stood at 2.9%, exceeding the average estimate of 2.8% [4] - Return on average common equity was 6.6%, above the estimated 6.4% [4] - Book value per common share was $50.26, lower than the estimated $50.76 [4] - Return on average total assets was 0.7%, matching the estimated 0.7% [4] - Efficiency Ratio was reported at 66.3%, higher than the estimated 65.4% [4] - Net charge-offs as a percentage of average loans and leases were 0.5%, consistent with the average estimate [4] - Tangible book value per common share was $32.34, below the estimated $32.75 [4] - Common Equity Tier 1 Capital Ratio (CET1) was 10.8%, above the estimated 10.6% [4] - Tier 1 Leverage Ratio was 9.4%, significantly higher than the estimated 8.3% [4] - Tier 1 Capital Ratio was reported at 12.1%, above the estimated 11.9% [4] Stock Performance - Shares of Citizens Financial Group have returned +10.3% over the past month, outperforming the Zacks S&P 500 composite, which saw a -2.1% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Group 1 - Citizens Financial Group (CFG) reported quarterly earnings of $0.85 per share, exceeding the Zacks Consensus Estimate of $0.83 per share, and showing a significant increase from $0.34 per share a year ago, representing an earnings surprise of 2.41% [1] - The company posted revenues of $1.99 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.29%, with year-ago revenues also at $1.99 billion [2] - Citizens Financial Group shares have increased approximately 7% since the beginning of the year, outperforming the S&P 500's gain of 1% [3] Group 2 - The earnings outlook for Citizens Financial Group is mixed, with the current consensus EPS estimate for the coming quarter at $0.79 on revenues of $1.97 billion, and $3.85 on revenues of $8.19 billion for the current fiscal year [7] - The Zacks Industry Rank for Financial - Savings and Loan is currently in the top 10% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - The estimate revisions trend for Citizens Financial Group is currently reflected in a Zacks Rank 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6]

In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares from or pay an ...

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 ...