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Citizens Financial (CFG) Q4 Earnings Miss, NII Declines
CFGCitizens Financial (CFG) Zacks Investment Research·2024-01-17 19:06

Citizens Financial Group (CFG) has reported fourth-quarter 2023 earnings per share of 34 cents, missing the Zacks Consensus Estimate of 60 cents. The bottom line also declined from 1.25intheyear−agoquarter.Resultswereadverselyimpactedbylowernetinterestincome(NII),andariseinprovisionsandoperatingexpenses.Non−interestincomealsowitnessedadeclineinthequarter.Netincomewas1.25 in the year-ago quarter.Results were adversely impacted by lower net interest income (NII), and a rise in provisions and operating expenses. Non-interest income also witnessed a decline in the quarter.Net income was 189 million, down from 653millionintheprior−yearquarter.In2023,underlyingearningsof653 million in the prior-year quarter.In 2023, underlying earnings of 3.13 per shar ...