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Thursday, October 15, 2020

Truist (TFC) reported earnings on Thur 15 Oct 20 (b/o)

 ** charts after earnings **


Truist beats by $0.09, beats on revs 

Reports Q3 (Sep) earnings of $0.97 per share, $0.09 better than the S&P Capital IQ Consensus of $0.88; revenues rose 85.1% year/year to $5.6 bln vs the $5.48 bln S&P Capital IQ Consensus.

  • Provision for credit losses was $421 million for the third quarter of 2020, which includes a modest build in the allowance for credit losses
  • The allowance for loan and lease loss coverage ratio was 5.22 times nonperforming loans and leases held for investment, versus 5.24 times in the prior quarter

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