KeyCorp Third Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 10/18 10:55

KeyCorp (NYSE:KEY) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$588.0m (down 60% from 3Q 2023).
  • Net loss: US$411.0m (down by 255% from US$266.0m profit in 3Q 2023).
  • US$0.43 loss per share (down from US$0.29 profit in 3Q 2023).
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NYSE:KEY Earnings and Revenue Growth October 18th 2024

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

KeyCorp Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 57%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 14% 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 share price is broadly unchanged from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for KeyCorp that you need to be mindful of.