Financial Data and Key Metrics - No specific financial data or key metrics changes mentioned in the provided content [1][2][3][4][5][6] Business Line Data and Key Metrics - No specific business line data or key metrics changes mentioned in the provided content [1][2][3][4][5][6] Market Data and Key Metrics - No specific market data or key metrics changes mentioned in the provided content [1][2][3][4][5][6] Company Strategy and Industry Competition - No specific company strategy or industry competition details mentioned in the provided content [1][2][3][4][5][6] Management Commentary on Operating Environment and Future Outlook - No specific management commentary on the operating environment or future outlook mentioned in the provided content [1][2][3][4][5][6] Other Important Information - The company's comments include forward-looking statements subject to risks and uncertainties, with no obligation to update such statements [4] - Non-GAAP financial measures are referenced, with reconciliations available in Section 5 of the presentation [4] - The company is not responsible for the accuracy of earnings transcripts provided by third parties [5] Q&A Session - No Q&A session details provided in the content [1][2][3][4][5][6]

Core Insights - First Citizens BancShares (FCNCA) reported revenue of $2.41 billion for the quarter ended December 2024, reflecting a decrease of 1.9% year-over-year, while EPS was $45.10, down from $46.58 in the same quarter last year [1] - The reported revenue exceeded the Zacks Consensus Estimate of $2.25 billion by 7.02%, and the EPS surpassed the consensus estimate of $39.46 by 14.29% [1] Financial Metrics - Net Interest Margin was reported at 3.3%, matching the five-analyst average estimate [4] - Efficiency Ratio stood at 63%, higher than the five-analyst average estimate of 58.2% [4] - Book value per share was $1,556.16, below the five-analyst average estimate of $1,570.78 [4] - Net charge-off ratio was 0.5%, consistent with the average estimate from four analysts [4] - Average Balance of Total interest-earning assets was $204.78 billion, slightly above the four-analyst average estimate of $203.62 billion [4] - Nonaccrual loans at period end were $1.18 billion, lower than the three-analyst average estimate of $1.31 billion [4] - Net Interest Income was reported at $1.71 billion, slightly above the five-analyst average estimate of $1.70 billion [4] - Factoring commissions were $20 million, exceeding the four-analyst average estimate of $18.91 million [4] - Merchant services, net, reported $13 million, above the four-analyst average estimate of $12.03 million [4] - Cardholder services, net, were $41 million, slightly below the average estimate of $41.96 million based on four analysts [4] - International fees were $33 million, exceeding the three-analyst average estimate of $29.48 million [4] - Wealth management services reported $54 million, above the three-analyst average estimate of $53.36 million [4] Stock Performance - Shares of First Citizens have returned +2.9% over the past month, compared to the Zacks S&P 500 composite's +2.5% 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]

First Citizens BancShares, Inc. Fourth Quarter 2024 Earnings Conference Call January 24, 2025 Important Notices Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans, asset quality, future performance, and other strategic goals of BancShares. Words such as "anticipates," "believes," "estimates," "expects," "predicts," "forecasts," "i ...

Group 1 - First Citizens BancShares (FCNCA) reported quarterly earnings of $45.10 per share, exceeding the Zacks Consensus Estimate of $39.46 per share, but down from $46.58 per share a year ago, representing an earnings surprise of 14.29% [1] - The company posted revenues of $2.41 billion for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 7.02%, compared to year-ago revenues of $2.45 billion [2] - First Citizens shares have increased approximately 4.9% since the beginning of the year, outperforming the S&P 500's gain of 4% [3] Group 2 - The current consensus EPS estimate for the upcoming quarter is $37.27 on revenues of $2.2 billion, and for the current fiscal year, it is $161.34 on revenues of $8.91 billion [7] - The Zacks Industry Rank indicates that the Banks - Southeast sector is currently in the top 20% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this category [8] Group 3 - The estimate revisions trend for First Citizens is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] - Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Dollars in millions, except per share data | | | | | Three Months Ended | | | | | Year Ended December 31, | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Summary Financial Data & Key Metrics | | December 31, 2024 | | September 30, 2024 | | December 31, 2023 | | 2024 | | 2023 | | Results of Operations: | | | | | | | | | | | | Net interest income | $ | 1,709 | $ | 1,796 | $ | 1,911 | $ | 7,143 | $ | 6,712 | | Provision for credit losses | | 155 | | 117 | | 249 | | 431 | | 1,375 | | N ...

Company Commitment - First Citizens Bank has committed $2 million in donations and financial support to aid in critical humanitarian and small business relief efforts for those impacted by the Southern California wildfires [1] - The commitment aims to bolster resource mobilization to impacted areas through various organizations and support the longer-term revitalization and stabilization of the region [2] - A portion of the funds will directly benefit the immediate and ongoing needs of First Citizens associates impacted by the wildfires [2] Company Operations and Impact - Southern California is home to more than 1,000 First Citizens Bank associates and 30 branches and offices serving clients in the region [3] - The wildfires have had a devastating impact on customers, colleagues, and community members, prompting the bank to assure continued support [3] - Bank associates are working with customers to understand their needs and develop flexible solutions to support recovery [3] Company Overview - First Citizens Bank serves personal, business, commercial, and wealth clients, offering general banking services, commercial banking expertise, innovation banking, and a nationwide direct bank [5] - The bank operates a network of more than 500 branches and offices across 30 states [5] - Parent company First Citizens BancShares, Inc is a top 20 US financial institution with over $200 billion in assets and a member of the Fortune 500 [5]

Core Insights - The wine industry is experiencing a significant demand-based correction, marking the first such change in three decades, driven by a generational shift towards younger consumers [3] - Despite an overall decline in global wine demand, the premium wine segment shows resilience, with the top quartile of wineries achieving an average sales growth of 22% [2][8] - The market environment is expected to lead to the most accessible bottle pricing in the last 30 years, benefiting consumers seeking value [2] Market Trends - Total wine category sales are projected to end 2024 with negative volume growth between -3% and -1%, while the weighted average of wineries experienced a 3.4% revenue decline [8] - No- and low-alcohol wines, as well as white wine and prosecco, are witnessing positive growth, indicating a shift in consumer preferences [4] - The youngest consumers are increasingly abstaining from wine or opting for alternatives, a trend expected to continue into 2025 and beyond [4][5] Consumer Behavior - Older consumers (60+) who traditionally purchase more wine are being replaced by younger consumers who have lower purchasing indices and prefer other drink categories [5] - To restore balance between demand and supply, it is critical to increase consumption among consumers aged 30-45 [5] Industry Challenges - Wine supply is currently backed up throughout production and sales channels, creating challenges for industry players [2] - Tasting room visitation is predicted to be slightly lower in 2025 compared to 2024, indicating potential difficulties in attracting consumers [8] - 42% of winery survey respondents plan to implement small price increases in 2025, which may be challenging in an oversupplied market [8]

Core Viewpoint - Analysts expect First Citizens BancShares (FCNCA) to report quarterly earnings of $39.46 per share, reflecting a year-over-year decline of 15.3%, with revenues projected at $2.23 billion, down 9% from the previous year [1] Earnings Estimates - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock performance [2] Key Metrics Projections - Analysts estimate an 'Efficiency Ratio' of 58.2%, down from 60.8% a year ago [4] - 'Net Interest Margin' is expected to be 3.3%, compared to 3.9% in the previous year [4] - 'Average Balance - Total interest-earning assets' is projected at $203.62 billion, up from $196.25 billion a year ago [4] Loan and Asset Estimates - 'Nonaccrual loans at period end' are projected to reach $1.31 billion, up from $969 million in the same quarter last year [5] - 'Total nonperforming assets' are expected to be $1.35 billion, compared to $1.03 billion a year ago [5] Income Estimates - 'Net Interest Income' is projected at $1.70 billion, down from $1.91 billion a year ago [6] - 'Merchant services, net' is estimated at $12.03 million, slightly up from $12 million in the same quarter last year [6] - 'Cardholder services, net' is expected to reach $41.96 million, compared to $36 million a year ago [6] Service Charges and Fees - 'Service charges on deposit accounts' are expected to be $45.34 million, up from $44 million in the same quarter last year [7] - 'Factoring commissions' are projected at $18.91 million, down from $22 million a year ago [7] - 'International fees' are expected to be $29.48 million, slightly down from $30 million in the previous year [8] - 'Fee income and other service charges' are projected at $81.27 million, up from $80 million a year ago [8] Stock Performance - Shares of First Citizens have returned +2.7% over the past month, outperforming the Zacks S&P 500 composite, which changed by -0.4% [8]

The market expects First Citizens BancShares (FCNCA) to deliver a year-over-year decline 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 ...

SAN FRANCISCO, Jan. 8, 2025 /PRNewswire/ -- Linea Energy ("Linea"), a renewables-focused developer and independent power producer that is sponsored by EnCap Investments L.P. ("EnCap"), is pleased to announce closing of project debt financing for its Pineview Solar project ("Pineview") this past December. Pineview is a 109MWdc utility-scale solar energy facility located in Wilcox County, Georgia. The Pineview debt financing comprises a construction-to-term loan, a tax equity bridge loan, and a letter of cred ...