BB&T's (BBT) Q3 Earnings & Revenues Beat Expectations

Have you been eager to see how BB&T Corporation (BBT - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this North Carolina-based diversified financial holding company’s earnings release this morning.

An Earnings Beat

BB&T came out with adjusted earnings per share of $1.07, which beat the Zacks Consensus Estimate of $1.03.

Rise in revenues was partly offset by higher expenses.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for BB&T depicted a pessimistic stance prior to the earnings release. The Zacks Consensus Estimate has revised nearly 1% lower over the last 30 days.

Notably, BB&T has an impressive earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in each of the prior four quarters.

BB&T Corporation Price and EPS Surprise

BB&T Corporation Price and EPS Surprise

Overall, on an average the company posted positive earnings surprise of 2.4% in the trailing four quarters.

Revenues Beat Expectation

BB&T posted total revenues of $3.0 billion, outpacing the Zacks Consensus Estimate of $2.97 billion.

Key Q3 Statistics

  • After considering several non-recurring items, net income available to common shareholders was $735 million or 95 cents per share
  • Net interest margin was 3.37%
  • Adjusted efficiency ratio of 57.1%
  • Average loans and leases held for investment were $152 billion
  • Average deposits were $162 billion
  • Common equity Tier 1 ratio was 10.6% as of Sep 30, 2019

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BB&T. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

Disclosure: contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

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