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Truist Financial (TFC) Q2 Earnings Beat, Revenues & Costs Rise
Truist Financial’s TFC second-quarter 2020 adjusted earnings of 82 cents per share surpassed the Zacks Consensus Estimate of 64 cents. Results excluded restructuring charges and BB&T-SunTrust Banks merger-related charges, incremental operating expenses related to the merger, securities gains and losses from the early extinguishment of long-term debt.
Results benefited from an improvement in revenues along with a decline in provision for credit losses. However, higher expenses were an undermining factor. The balance sheet position remained strong in the reported quarter.
After considering non-recurring items, net income available to common shareholders (GAAP basis) was $902 million or 67 cents per share compared with $986 million or 73 cents per share in the prior quarter.
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https://finance.yahoo.com/news/truist-fi...11560.html
![[Bild: TFCc1dl0447.png]](https://finviz.com/publish/071720/TFCc1dl0447.png)
Truist Financial’s TFC second-quarter 2020 adjusted earnings of 82 cents per share surpassed the Zacks Consensus Estimate of 64 cents. Results excluded restructuring charges and BB&T-SunTrust Banks merger-related charges, incremental operating expenses related to the merger, securities gains and losses from the early extinguishment of long-term debt.
Results benefited from an improvement in revenues along with a decline in provision for credit losses. However, higher expenses were an undermining factor. The balance sheet position remained strong in the reported quarter.
After considering non-recurring items, net income available to common shareholders (GAAP basis) was $902 million or 67 cents per share compared with $986 million or 73 cents per share in the prior quarter.
...
https://finance.yahoo.com/news/truist-fi...11560.html
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