Truist(US:TFC)2025-10-30 20:32Financial Performance - Net income for the three months ended September 30, 2025, was $1,452 million, slightly up from $1,442 million in 2024, showing a marginal increase of 0.7%[24] - Net income for the nine months ended September 30, 2025, was $3,953 million, an increase from $3,564 million in 2024, representing a growth of 10.9%[29] - Net income available to common shareholders for Q3 2025 was $1,348 million, compared to $1,333 million in Q3 2024, reflecting a growth of 1.1%[17] - For the nine months ended September 30, 2025, net income available to common shareholders was $3,685 million, compared to a loss of $1,623 million in the same period of 2024[17] Earnings Per Share - Basic EPS from continuing operations for the three months ended September 30, 2025, was $1.05, compared to $1.00 in 2024, marking a 5% increase[22] - Basic EPS from continuing operations for Q3 2025 was $1.05, up from $1.00 in Q3 2024, indicating a 5% increase[17] Income and Expenses - Net interest income after provision for credit losses for the three months ended September 30, 2025, was $3,193 million, compared to $3,154 million for the same period in 2024, reflecting a year-over-year increase of 1.2%[22] - Noninterest income for the three months ended September 30, 2025, was $1,558 million, up from $1,483 million in 2024, indicating a growth of 5.1%[22] - Noninterest expense increased by $87 million, or 3.0%, mainly due to higher personnel expenses[202] Assets and Liabilities - Total assets increased to $543,851 million as of September 30, 2025, up from $531,176 million at December 31, 2024, representing a growth of 2.5%[19] - Total liabilities rose to $478,205 million as of September 30, 2025, from $467,497 million at December 31, 2024, an increase of 2.0%[19] - Total shareholders' equity increased to $65,646 million as of September 30, 2025, from $63,679 million at December 31, 2024, representing a growth of 3.1%[19] Credit Losses and Provisions - The provision for credit losses for the three months ended September 30, 2025, was $436 million, compared to $448 million in 2024, reflecting a decrease of 2.7%[22] - The allowance for credit losses stood at $5.3 billion, with an ALLL ratio of 1.54%, unchanged from June 30, 2025[186] Cash Flow and Investments - Net cash from operating activities increased to $3,157 million in 2025 from $1,389 million in 2024, showing a significant improvement[29] - Net cash from investing activities was negative at $(12,971) million in 2025, compared to a positive $26,558 million in 2024, indicating a shift in investment strategy[29] Shareholder Returns - Cash dividends declared on common stock amounted to $695 million during the period, while preferred stock dividends were $106 million[26] - Truist returned $1.2 billion to shareholders through $665 million in dividends and $500 million in share repurchases during Q3 2025[177] Loan Portfolio - The total loans and leases held for investment (HFI) reached $323,738 million as of September 30, 2025, up from $306,383 million as of December 31, 2024, indicating a growth of about 5.7%[49][50] - Total consumer loans, including residential mortgage and credit card loans, reached $132,790 million as of September 30, 2025[49] Securities and Investments - The amortized cost of AFS securities was $70.241 billion as of September 30, 2025, with a fair value of $65.522 billion, indicating a net unrealized loss of $4.719 billion[44] - The total amount of securities sold under agreements to repurchase was $8.050 billion as of September 30, 2025, a decrease from $9.675 billion as of December 31, 2024, representing a decline of 16.7%[43] Economic Outlook - The economic outlook for the ACL estimates as of September 30, 2025, included low single-digit GDP growth and a mid-to-high single-digit unemployment rate[59] - The company continues to adjust its economic forecasts to reflect current and expected economic conditions, including risks related to tariffs and inflation[59] Strategic Initiatives - Truist announced strategic growth investments, including building 100 new branches and enhancing digital capabilities over the next five years[176] - The company aims to deepen client relationships and enhance the financial experience by leveraging the full range of Truist's products and services[159]