
Financial services company Truist Financial (NYSE: TFC) will be reporting results this Wednesday before market open. Here’s what to expect.
Truist Financial beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $5.24 billion, up 1.9% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ tangible book value per share estimates but a slight miss of analysts’ net interest income estimates.
Is Truist Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Truist Financial’s revenue to grow 4% year on year to $5.32 billion, in line with the 3.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.09 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Truist Financial has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Truist Financial’s peers in the diversified banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. PNC Financial Services Group delivered year-on-year revenue growth of 9%, beating analysts’ expectations by 2.2%, and Bank of America reported revenues up 7.1%, topping estimates by 3.5%. PNC Financial Services Group traded up 647% following the results while Bank of America was down 21.9%.
Read our full analysis of PNC Financial Services Group’s results here and Bank of America’s results here.
Investors in the diversified banks segment have had steady hands going into earnings, with share prices up 1.4% on average over the last month. Truist Financial’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $55.11 (compared to the current share price of $50.06).
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