Truist Financial Third Quarter 2024 Earnings: EPS Beats Expectations

Simply Wall St · 10/18 10:02

Truist Financial (NYSE:TFC) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$4.64b (down 10% from 3Q 2023).
  • Net income: US$1.33b (up 25% from 3Q 2023).
  • Profit margin: 29% (up from 21% in 3Q 2023).
  • EPS: US$1.00 (up from US$0.80 in 3Q 2023).
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NYSE:TFC Earnings and Revenue Growth October 18th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

Truist Financial EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 8.1%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are up 1.1% from a week ago.

Risk Analysis

It's still necessary to consider the ever-present spectre of investment risk. We've identified 1 warning sign with Truist Financial, and understanding this should be part of your investment process.