Adjusted Revenues Down, Adjusted Expenses Fall Non-interest expenses were $3.09 billion, up 1.6%. Excluding certain non-recurring items, adjusted non-interest expenses declined 3% to $2.81 billion. The decline was mainly attributable to lower personnel expenses. Our estimate for adjusted non-interest expenses was $2.85 billion. Provision for credit losses was $451 million in the second quarter, down 16.2% from the prior-year quarter. Our estimate for provisions was $525.5 million. Major Developments In aggr ...

From time to time we have made, and in the future will make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as "believe," "expect," "anticipate," "intend," "pursue," "seek," "continue," "estimate," "project," "outlook," "forecast," "potential," "target," "objective," "trend," "plan," "goal," "in ...

This quarterly report represents an earnings surprise of 8.33%. A quarter ago, it was expected that this company would post earnings of $0.78 per share when it actually produced earnings of $0.90, delivering a surprise of 15.38%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While Truist Financial has underperformed the market so far this year, the question ...

Quarterly Performance Summary Truist Financial Corporation Second Quarter 2024 Ta b l e o f C o n t e n t s Q u a r t e rly P e rfo r m a n c e S u m m a r y T r uis t Fin a n cial C o r p o r a tio n | P | a | g | e | Fin | a | n | cial | Hig | hlig | h | t | s | 1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | - ...

Core Insights - Truist Financial Corporation reported its second quarter 2024 results, with a live earnings call accessible to investors [1] - The company is a leading U.S. commercial bank with a strong market presence in high-growth areas [2] - As of June 30, 2024, Truist has total assets amounting to $520 billion [2] Company Overview - Truist is a purpose-driven financial services company focused on improving lives and communities [2] - The bank offers a diverse range of products and services, including consumer banking, commercial banking, corporate and investment banking, wealth management, payments, and specialized lending [2] - Truist is headquartered in Charlotte, North Carolina, and ranks among the top-10 commercial banks in the U.S. [2]

Introduction As I've explained in detail in my previous coverage of Truist here on Seeking Alpha, I felt very comfortable looking past these losses. This is partially in light of the Federal Reserve's Bank Term Funding Program, which was announced quickly after the onset of the 2023 banking crisis to provide emergency liquidity and restore confidence in the banking system. Looking back, Truist shares have gained 42% since my first article titled "Disaster Or Opportunity: It's All About Truist." However, thi ...

Per the Federal Reserve's latest data, demand for commercial and industrial (C&I) loans (accounting for roughly 50% of TFC's total loans and leases held for investment) was modest in the first quarter. Meanwhile, consumer loan (almost 40% of total loans and leases held for investment) demand was subdued. The Zacks Consensus Estimate for TFC's average earning assets is pegged at $478.3 billion, which suggests a 5.3% fall from the prior-year quarter's reported figure. The consensus estimate for NII (fully tax ...

Earnings Expectations for Truist Financial - Truist Financial is expected to report quarterly earnings of $0.78 per share, reflecting a year-over-year decline of 17.9% [2] - Revenues are anticipated to be $4.86 billion, down 17.8% from the same quarter last year [18] - The Most Accurate Estimate for Truist Financial is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -2.72%, indicating a bearish outlook from analysts [6] Estimate Revisions and Predictions - The consensus EPS estimate has been revised 1.64% higher over the last 30 days, suggesting a reassessment by covering analysts [3] - A positive Earnings ESP is a strong predictor of an earnings beat, especially when combined with a Zacks Rank of 1, 2, or 3 [5] - Truist Financial currently holds a Zacks Rank of 3, making it difficult to predict a definitive earnings beat [22][28] Earnings Surprise History - Over the last four quarters, Truist Financial has beaten consensus EPS estimates two times [24] - The company's previous quarter saw an earnings surprise of +15.38%, with actual earnings of $0.90 per share against an expectation of $0.78 [13] Comparison with BankUnited - BankUnited is expected to report earnings of $0.65 per share for the same quarter, indicating a year-over-year change of -16.7% [27] - BankUnited's revenues are projected to be $243.8 million, up 1.9% from the previous year [27] - BankUnited has an Earnings ESP of 0.00% and a Zacks Rank of 3, making it similarly challenging to predict an earnings beat [15][28]

CHARLOTTE, N.C., June 28, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today released the results of its annual company-run stress test, conducted in accordance with the regulations of the Board of Governors of the Federal Reserve System ("Federal Reserve") and the Federal Deposit Insurance Corporation, under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The results are available online at https://IR.Truist.com/other-filings. Truist announced that the Federal Reserve has de ...

Truist Financial (TFC) is expected to witness continued top-line growth on the back of decent loan demand, high interest rates, strategic restructuring initiatives and efforts to improve fee income. Analysts seem optimistic regarding the company's earnings growth potential. Over the past 60 days, the Zacks Consensus Estimate for Truist's 2024 earnings has been revised 1% upward. In the past year, TFC shares have gained 23.5% compared with the industry's growth of 32.6%. Image Source: Zacks Investment Resear ...