Core Viewpoint - The market anticipates Truist Financial Corporation (TFC) to report a year-over-year earnings increase despite lower revenues in the upcoming earnings report for the quarter ended December 2024 [1] Earnings Expectations - Truist Financial is expected to post quarterly earnings of $0.87 per share, reflecting a year-over-year change of +7.4% [3] - Revenues are projected to be $5.01 billion, which is a decrease of 12.1% from the same quarter last year [3] Estimate Revisions - The consensus EPS estimate has been revised 0.33% higher in the last 30 days, indicating a positive reassessment by analysts [4] - The Most Accurate Estimate for Truist Financial is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +2.27% [10][11] Earnings Surprise Prediction - A positive Earnings ESP is a strong indicator of a potential earnings beat, especially when combined with a Zacks Rank of 1 (Strong Buy), 2 (Buy), or 3 (Hold) [8] - Truist Financial currently holds a Zacks Rank of 3, suggesting a likelihood of beating the consensus EPS estimate [11] Historical Performance - In the last reported quarter, Truist Financial exceeded the expected earnings of $0.89 per share by delivering $0.97, resulting in a surprise of +8.99% [12] - Over the past four quarters, the company has surpassed consensus EPS estimates three times [13] Industry Comparison - U.S. Bancorp (USB), a peer in the Zacks Banks - Major Regional industry, is expected to report earnings of $1.06 per share, indicating a year-over-year change of +7.1% [17] - U.S. Bancorp's revenues are expected to be $7.03 billion, up 4.4% from the previous year [17] - The consensus EPS estimate for U.S. Bancorp has been revised 0.2% higher, but it currently has an Earnings ESP of -0.43%, making predictions about beating the consensus EPS estimate less certain [18]

CHARLOTTE, N.C., Dec. 20, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) will report fourth-quarter 2024 financial results before the market opens on Friday, January 17, 2025. Chairman and Chief Executive Officer Bill Rogers and Chief Financial Officer Mike Maguire will host a conference call to review the company's financial results at 8 a.m. ET.Investors can access the live earnings call by webcast or dial-in as follows:Live webcast for listeners: https://app.webinar.net/xOqjwYK80mYDial-in ...

CHARLOTTE, N.C., Dec. 11, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it received the highest possible overall rating of "Outstanding" from the Federal Deposit Insurance Corporation for its most recent Community Reinvestment Act examination period, from 2020-2022. The CRA encourages banks to help meet the credit needs of communities in which they operate, including low- and moderate-income (LMI) neighborhoods, consistent with safe and sound banking operations."Receiving an ...

CHARLOTTE, N.C., Nov. 21, 2024 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced that Chairman and Chief Executive Officer Bill Rogers will speak at the Goldman Sachs 2024 US Financial Services Conference at 10:40 a.m. ET on Tuesday, Dec. 10, 2024, in New York City.A live audio webcast will be available on the day of the conference at ir.truist.com under Events & Presentations. A replay of the webcast will be available on the website for 30 days.About TruistTruist Financial Corporatio ...

VANCOUVER, British Columbia, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Sirona Biochem Corp. (TSX-V: SBM) (FSE: ZSB) is proud to announce the publication of a pivotal research article in the prestigious Journal of Cosmetic Dermatology. About the Study The article, titled “TFC-1326 Compound Reduces Clinical Signs of Skin Aging: Evidence From In Vitro Human Adipose and Skin Models and Pilot Clinical Trial,” highlights the groundbreaking efficacy of Sirona’s proprietary compound TFC-1326 in reducing visible signs of sk ...

The commitment will include new, dedicated capital for local small businesses, residents and municipalities, impact capital from Truist Community Capital, philanthropic giving from Truist Foundation and additional on-the-ground humanitarian support from Truist teammates to help establish long-term resiliency in this devastated region. To optimize this new initiative, Truist will work closely with community partners, including key civic and business stakeholders, and disaster response organizations, to help ...

Brad Bender, a 20-year Truist veteran, will succeed Starnes as chief risk officer, reporting to Truist Chairman and CEO Bill Rogers. In his new role, Bender will be responsible for leading the company's risk management organization—including oversight of credit, market, capital, liquidity, operational, compliance and technology risk—as well as Truist's regulatory relations, ethics and financial crimes functions. Bender will assume the role of chief risk officer effective immediately and continue to serve on ...

JACKSONVILLE, Fla., Nov. 12, 2024 /PRNewswire/ -- Azimuth, a pioneer in compliance automation, announced today that it is growing its strategic partnership with Truist Financial Corp (NYSE: TFC). With this multi-year expansion of their current partnership, Truist will implement Azimuth's VALIDATOR software, enabling the bank to deploy automated, full-population compliance monitoring across multiple consumer businesses.This multi-year agreement broadens the partnership that began in December 2021 with an inv ...

Truist Financial Corporation Conference Call Summary Company Overview - **Company**: Truist Financial Corporation (NYSE:TFC) - **Formation**: Result of the merger between SunTrust and BB&T in December 2019 - **Headquarters**: Charlotte, North Carolina - **Assets**: $520 billion - **Deposits**: $385 billion - **Market Share**: Top 5 market share in 23 out of 25 largest MSAs [1] Core Financial Metrics - **ROTCE Target**: Mid-teens medium-term ROTCE target, up from a starting point of 12% to 13% [2] - **Revenue Composition**: 54% from consumer and small business banking, 46% from wholesale banking [7] - **Deposit Base**: $211 billion in consumer and small business deposits with a leading efficiency ratio of 51% [10] Strategic Focus and Values - **Purpose**: To inspire and build better lives and communities [5] - **Core Values**: Emphasis on caring for clients and achieving success for clients and shareholders [6] - **Market Position**: Positioned in 17 of the fastest-growing markets in the U.S. with a strong deposit share of 20% in those markets [9] Growth and Performance - **Revenue Growth**: Revenue growing at a CAGR of 6%, with expenses decreasing at a CAGR of 6%, leading to a PPNR growth of 12% [12] - **Client Engagement**: 14 million clients with an average tenure of over 10 years [10] - **Digital Transactions**: 65% of transactions are now digital, with a goal to increase this further [27] Client Solutions and Products - **Truist One Account**: A leading deposit account that rewards clients for increased business [10] - **National Consumer Lending**: Includes Sheffield (powersports financing), Service Finance (home improvement), and LightStream (personal loans) [13][14][15] - **Auto Solutions**: Serving over 6,000 dealers with a strong position in both prime and subprime markets [16] Digital Strategy - **Digital Migration**: Focus on enhancing digital interactions, with 2.5 million daily digital logins [26] - **Truist Assist**: A virtual digital bot that resolves 86% of client inquiries, improving efficiency [28] - **Investment in Technology**: Enhancements in user experience and ID verification for account openings [41][42] Consumer and Small Business Banking - **Deposit Growth**: Focus on granular core stable deposit business, with a primacy ratio of 82% [21][23] - **Deepening Relationships**: Emphasis on deepening existing client relationships as a key growth opportunity [24] - **Client Solutions Delivered**: Up 50% compared to 2022, with a CAGR of 14% [25] Credit and Risk Management - **Consumer Portfolio Health**: Optimistic outlook due to strong employment and liquidity positions, though some stress observed in lower-income segments [43] - **Small Business Outlook**: Neutral stance due to contracting margins and profitability concerns [43] Challenges and Market Position - **Revenue Growth Concerns**: Despite strong franchise attributes, revenue growth has been average, with a focus on improving financial results [45] - **Market Share Dynamics**: Competing banks gaining share, but Truist is focused on net new accounts and primacy growth [46] Conclusion - **Strategic Focus**: Accelerating growth in priority markets, improving profitability through deepening client relationships, and activating capital while maintaining risk discipline [37] - **Future Outlook**: Commitment to achieving mid-teens ROTCE through focused execution of the three Ds: deposits, deepening, and digital [48]

Company Overview - Truist Financial Corporation was formed in December 2019 from the merger of SunTrust and BB&T, headquartered in Charlotte, North Carolina [1] - The company currently has assets totaling $520 billion and deposits of $385 billion, holding a top 5 market share in 23 out of its 25 largest Metropolitan Statistical Areas (MSAs) [1] Financial Targets - The company has set a medium-term Return on Tangible Common Equity (ROTCE) target in the mid-teens, an increase from a previous target range of 12% to 13% [2] Leadership and Operations - Donta Wilson, Head of Consumer and Small Business Banking, leads a team of 20,000 employees serving retail, premier, and small business clients through various channels including digital banking and over 1,900 community banking branches [2] - Wilson oversees core deposit and loan products, including mortgage, auto, and national consumer lending businesses, and is a member of the operating council [2]