Financial Data and Key Metrics Changes - PNC reported a net income of $1.5 billion, or $3.51 per share, reflecting a year-over-year increase of 13% [25][36] - Total revenue for the quarter was $5.5 billion, a decrease of $115 million, or 2%, compared to the previous quarter, primarily due to seasonality [27][36] - Non-interest expense increased by $53 million, or 2%, driven by higher business activity and technology investments [25][36] - The net interest margin expanded to 2.78%, an increase of three basis points [27][36] Business Line Data and Key Metrics Changes - Average loan balances declined by $2 billion, or 1%, driven by lower commercial real estate and consumer loans, but total loans grew by $2 billion, or 1%, on a period-end basis [14][18] - C&I loans increased by $5 billion, or 3%, reflecting broad growth across loan categories, marking the largest increase since Q4 2022 [19][36] - Investment securities decreased by $2 billion to $142 billion, with a stable securities yield of 3.17% [20][36] Market Data and Key Metrics Changes - Average deposits decreased by $5 billion, or 1%, to $421 billion, with consumer deposits increasing by $4 billion, or 2%, while commercial deposits declined by $5 billion, or 2% [22][36] - The rate paid on interest-bearing deposits declined by 20 basis points to 2.23% [22][36] Company Strategy and Development Direction - The company aims to focus on organic growth opportunities while maintaining strong capital levels and providing significant shareholder returns through dividends and share repurchases [11][36] - PNC is committed to managing expenses effectively, with a goal to reduce costs by $350 million in 2025 through a continuous improvement program [31][36] - The appointment of Mark Weidman as president is expected to enhance the company's capabilities without changing its strategic direction [12][71] Management's Comments on Operating Environment and Future Outlook - Management acknowledged increased market volatility due to tariff uncertainties but expressed confidence in the company's ability to perform well in uncertain times [7][8] - The company expects average loans to be stable for the full year 2025, with spot loan growth projected at 2% to 3% [37][36] - Non-interest income may face pressure throughout the year due to the uncertainty surrounding tariffs [37][36] Other Important Information - The company returned approximately $800 million of capital to shareholders through dividends and share repurchases during the quarter [17][36] - The allowance for credit losses totaled $5.2 billion, or 1.64% of total loans, reflecting considerations for potential economic downturns [34][36] Q&A Session Summary Question: Can you provide more details on the drivers of loan growth in C&I? - Management noted broad-based growth across most loan categories, with increased utilization rates and new loan productions contributing to the growth [46][47] Question: How do you view the capital markets pipeline given the current uncertainty? - Management indicated that while capital markets were lighter than expected, the M&A advisory pipeline remains strong, with a 20% increase compared to last year [50][51] Question: What are your thoughts on expense management in a potential recession? - Management expressed confidence in maintaining positive expense leverage and indicated that some expenses would self-correct with lower activity [56][58] Question: How do you see the impact of tariffs on your credit outlook? - Management stated that while tariffs have slowed activity, they have not yet led to credit deterioration, and the quality of the loan book remains strong [88][89] Question: What is the company's strategy regarding share buybacks? - Management confirmed an intention to accelerate share buybacks, particularly given the current share price [105][145]

First Quarter 2025 Earnings Conference Call April 15, 2025 Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information Our earnings conference call presentation is not intended as a full business or financial review and should be viewed in the context of all of the information made available by PNC in its SEC filings and on our corporate website. The presentation contains forward-looking statements regarding our outlook for financial performance, such as earnings, revenues, expenses, t ...

The PNC Financial Services Group, Inc.’s (PNC) first-quarter 2025 adjusted earnings per share of $3.51 surpassed the Zacks Consensus Estimate of $3.40. In the prior-year quarter, the company reported earnings per share of $3.36.Results were aided by a rise in fee income, NII and the loan balance. However, an increase in expenses and provision for credit losses acted as spoilsports.Net income (GAAP basis) was $1.49 billion, which jumped 11.5% from the prior-year quarter.PNC Financial’s Revenues & Expenses Ri ...

Core Insights - The PNC Financial Services Group reported $5.48 billion in revenue for Q1 2025, a 6.5% year-over-year increase, with an EPS of $3.51 compared to $3.36 a year ago [1] - The reported revenue met the Zacks Consensus Estimate, with a slight surprise of +0.02%, while the EPS exceeded expectations by +3.24% [1] Financial Performance Metrics - Efficiency ratio was reported at 62%, matching the average estimate from seven analysts [4] - Net interest margin stood at 2.8%, aligning with the average estimate of seven analysts [4] - Net charge-offs to average loans were 0.3%, slightly better than the average estimate of 0.4% [4] - Average balance of total interest-earning assets was $503.57 billion, below the average estimate of $507.80 billion [4] - Book value per common share was $127.98, exceeding the average estimate of $125.24 [4] - Total nonperforming assets were $2.32 billion, better than the estimated $2.38 billion [4] - Total nonperforming loans were $2.29 billion, also better than the average estimate of $2.36 billion [4] - Leverage ratio was reported at 9.2%, above the average estimate of 8.9% [4] - Tier 1 risk-based ratio was 11.9%, surpassing the average estimate of 11.7% [4] - Total capital risk-based ratio was 13.7%, slightly above the average estimate of 13.5% [4] - Net interest income (FTE) was $3.50 billion, exceeding the average estimate of $3.48 billion [4] - Total noninterest income was $1.98 billion, below the average estimate of $2.02 billion [4] Stock Performance - Shares of The PNC Financial Services Group have declined by -10.7% over the past month, compared to a -3.9% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.51 per share, beating the Zacks Consensus Estimate of $3.40 per share. This compares to earnings of $3.36 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.24%. A quarter ago, it was expected that this company would post earnings of $3.30 per share when it actually produced earnings of $3.77, delivering a surprise of 14.24%.Over the last four qu ...

Expanded NIM; increased capital and TBV; maintained solid credit quality metrics PITTSBURGH, April 15, 2025 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter In millions, except per share data and as noted 1Q25 4Q24 1Q24 First Quarter Highlights Financial Results Comparisons reflect 1Q25 vs. 4Q24 Net interest income $    3,476 $    3,523 $    3,264           Income Statement ▪   Net interest income decreased 1%     driven b ...

The PNC Financial Services Group, Inc. (PNC) is scheduled to report first-quarter 2025 earnings on April 15, before market open. Its revenues and earnings are expected to have improved on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the fourth quarter, PNC’s earnings beat the Zacks Consensus Estimate, driven by higher revenues and a fall in provision for credit losses and expenses. However, a lower loan balance was an undermining factor.The company has a ...

Wall Street analysts forecast that The PNC Financial Services Group, Inc (PNC) will report quarterly earnings of $3.40 per share in its upcoming release, pointing to a year-over-year increase of 1.2%. It is anticipated that revenues will amount to $5.48 billion, exhibiting an increase of 6.5% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 1.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' coll ...

Finance Executive to Accelerate Growth and Extend Strong Leadership TeamPITTSBURGH, April 7, 2025 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today announced that its Board of Directors has unanimously appointed Mark Wiedman as president of the corporation and its wholly owned banking subsidiary, PNC Bank, National Association, effective immediately.Wiedman will report to PNC Chairman and Chief Executive Officer William S. Demchak. PNC's primary operating lines of business and the Reg ...

Core Viewpoint - The PNC Financial Services Group, Inc (PNC) is well-positioned to continue its earnings-beat streak in upcoming reports, having consistently surpassed earnings estimates in recent quarters [1][4]. Earnings Performance - In the most recent quarter, PNC reported earnings of $3.77 per share, exceeding the expected $3.30 per share by a surprise of 14.24% [2]. - For the previous quarter, PNC's earnings were $3.49 per share against an estimate of $3.29 per share, resulting in a surprise of 6.08% [2]. Earnings Estimates and Predictions - Estimates for PNC have been trending higher, supported by its history of earnings surprises [4]. - The stock currently has a positive Earnings ESP of +0.57%, indicating bullish sentiment among analysts regarding its near-term earnings potential [7]. - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a strong likelihood of another earnings beat [7]. Statistical Insights - Research indicates that stocks with a positive Earnings ESP and a Zacks Rank of 3 or better have a nearly 70% chance of producing a positive surprise [5]. - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [6].