Truist Financial Corporation on Tuesday (Jan. 18) reported its fiscal 2021 fourth-quarter earnings were $1.38 per share (up 9.52%), beating the Zacks Consensus Estimate of $1.26 per share and up from $1.18 a year ago, according to a Tuesday (Jan. 18) press release.
In Q3, Truist was expected to post earnings of $1.20 per share but realized $1.42 per share, an 18.33% increase over the estimates. The company has surpassed its consensus earnings-per-share estimates in each of the past four quarters.
Truist Financial Corporation, which belongs to the Zacks Banks — Major Regional industry, posted revenues of $5.57 billion for the quarter that ended in December, down from $5.65 billion, missing the Zacks Consensus Estimate by 0.52%. The company has topped consensus revenue estimates two times over the last four quarters.
Truist Financial Corporation shares have jumped from $58.55 to $67.65 since the beginning of 2022 through 1 p.m. Tuesday (Jan. 18) versus the S&P 500’s decline of 2.2% since the new year began.
Ahead of Truit’s earnings release, the estimate revisions trend for Truist Financial Corporation is mixed.
“It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead,” the Zacks report said. “The current consensus EPS estimate is $1.17 on $5.5 billion in revenues for the coming quarter and $4.81 on $22.63 billion in revenues for the current fiscal year.”
Related: Truist Announces New Leadership Roster Following Merger
Truist Financial Corporation announced in August that President and Chief Operating Officer William H. Rogers Jr. would succeed Kelly S. King as chief executive officer in September, a move that was announced in February 2019 as part of a merger that formed the company.
King will serve as executive chairman of the board of directors through March 12 as part of the leadership transition.
Truist also announced the following changes: Daryl N. Bible as chief financial officer, Scott Case as chief information officer, Beau Cummins as vice chair and Ellen M. Fitzsimmons as chief legal officer and head of public affairs.
In addition, John Howard is chief insurance officer, Mike Maguire is chief national consumer finance services and payments officer, Kimberly Moore-Wright is chief teammate officer and head of enterprise diversity and Brant J. Standridge is chief retail community banking officer.
Finally, Clarke R. Starnes III is chief risk officer, Joseph M. Thompson is chief wealth officer, David H. Weaver is chief commercial community banking officer, Donta L. Wilson is chief digital and client experience officer, and Amy Collins is chief of staff.
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