Truist Financial Corporation (TFC) Beats Q2 Earnings and Revenue Estimates

Company Performance - Truist Financial reported quarterly earnings of $0.91 per share, exceeding the Zacks Consensus Estimate of $0.84 per share, but down from $0.95 per share a year ago [5] - The company posted revenues of $4.97 billion for the quarter, surpassing the Zacks Consensus Estimate by 1.89%, but down from $5.92 billion year-over-year [6] - The company has surpassed consensus EPS estimates three times over the last four quarters [11] Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $0.84 on revenues of $5 billion, and for the current fiscal year, it is $3.44 on revenues of $19.75 billion [14] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call [2] Industry Context - Truist Financial belongs to the Zacks Banks - Major Regional industry, which is currently ranked in the top 13% of over 250 Zacks industries [9] - The stock has added approximately 14.9% since the beginning of the year, compared to the S&P 500's gain of 15.4% [12]