Q4 2024 Truist Financial Corp Earnings Call Transcript
Key Points
- Truist Financial Corp (TFC) reported a strong end to 2024 with net income available to common shareholders of $1.2 billion or $0.91 per share.
- The company achieved a 46% increase in investment banking and trading revenue for the year, indicating strong market share gains.
- Truist Financial Corp (TFC) maintained solid credit metrics with non-performing loans declining and net charge-offs in line with expectations.
- The company's CET1 capital ratio improved to 11.5%, supported by strategic initiatives and capital returns to shareholders.
- Truist Financial Corp (TFC) is focused on expanding its digital presence, with significant growth in digital account openings and active digital users.
- Total revenue decreased by 0.5% on a linked-quarter basis, with both net interest income and fees experiencing modest declines.
- Adjusted expenses increased by 4% linked quarter, driven by higher professional fees and outside processing expenses.
- The net interest margin decreased by 5 basis points to 3.07%, primarily due to deposit repricing lag and a larger investment securities portfolio.
- Average commercial loans decreased, primarily due to a decline in CRE and C&I balances, reflecting lower production in these areas.
- The company anticipates a 2% decline in net interest income in the first quarter of 2025, primarily due to fewer days and seasonally lower deposit balances.
Greetings, ladies and gentlemen and welcome to the Truist Financial Corporation fourth-quarter 2024 earnings conference call. (Operator Instructions)
As a reminder, this event is being recorded. It is now my pleasure to introduce your host, Mr. Brad Milsaps.
Thank you, Betsy and good morning, everyone. Welcome to Truist's fourth-quarter 2024 earnings call. With us today are our Chairman and CEO, Bill Rogers; our CFO, Mike Maguire; and Chief Risk Officer, Brad Bender; as well as other members of Truist's senior management team.
During this morning's call, they will discuss Truist's fourth-quarter results, share their perspectives on current business conditions and provide an updated outlook for 2025. The company presentation as well as our earnings release and supplemental financial information are available on the Truist's Investor Relations website, ir.truist.com.
Our presentation today will include forward-looking statements and certain non-GAAP financial measures. Please
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
