Truist Financial Corporation (TFC) Earnings Expected to Grow: Should You Buy?

Company Overview - Truist Financial Corporation (TFC) is expected to report earnings of $0.89 per share for the quarter ended September 2024, reflecting a year-over-year increase of 6% [3] - Revenues are anticipated to be $5.05 billion, which represents an 11% decline from the same quarter last year [3] Earnings Expectations - The consensus EPS estimate has been revised 0.37% higher in the last 30 days, indicating a slight positive adjustment by analysts [4] - The Most Accurate Estimate for Truist Financial is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -0.37%, suggesting a bearish outlook from analysts [10] Earnings Surprise History - In the last reported quarter, Truist Financial exceeded the expected earnings of $0.84 per share by delivering $0.91, resulting in a surprise of 8.33% [11] - Over the past four quarters, the company has beaten consensus EPS estimates three times [12] Industry Context - State Street Corporation (STT), a peer in the Zacks Banks - Major Regional industry, is expected to report earnings of $2.08 per share for the same quarter, indicating a year-over-year increase of 7.8% [16] - State Street's revenues are projected to be $3.18 billion, reflecting an 18.1% increase from the previous year [16]