Truist Finl Q4 Adj. EPS $0.81 Misses $0.89 Estimate, Sales $5.76B Beat $5.69B Estimate
Portfolio Pulse from Benzinga Newsdesk
Truist Financial Corporation (NYSE: TFC) reported Q4 adjusted earnings per share (EPS) of $0.81, missing the consensus estimate of $0.89 by 8.99%. Year-over-year, this represents a 37.69% decrease from the previous $1.30 EPS. However, Truist's quarterly sales of $5.76B exceeded expectations of $5.69B by 1.23%, despite being a 7.22% decrease from the prior year's $6.21B.
January 18, 2024 | 11:01 am
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Truist Financial Corporation reported a Q4 adjusted EPS of $0.81, missing estimates by 8.99%, and a 37.69% decrease from the previous year. Sales were $5.76B, slightly above estimates but down 7.22% YoY.
The missed EPS is likely to negatively impact investor sentiment in the short term, as earnings are a critical measure of a company's financial performance. The sales beat might provide some cushion, but the significant decrease in EPS compared to last year is expected to have a more substantial negative effect on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100