BNY Mellon reports Q2 adjusted EPS $1.51, consensus $1.43

Reports Q2 revenue $4.6B, consensus $4.52B. Reports Q2 CET1 capital ratio 11.4%. The company said, “BNY delivered another quarter of improved financial performance, with positive operating leverage on the back of solid fee growth and continued expense discipline. The company reported earnings per share of $1.52, up 16% year-over-year. Excluding the impact of notable items, earnings per share were $1.51, up 9% year-over-year, and we generated a return on tangible common equity of 24% in the second quarter. Following the release of the Federal Reserve’s 2024 bank stress test in June, we increased our common dividend by 12% starting this quarter. Last month, we celebrated the 240th anniversary of our company. As we write our next chapter, we continue to take steps to propel us forward – investing in our leadership team, launching new client solutions and modernizing our brand. Halfway through the year, we’re pleased with the progress we have made, but we are focused on running our company better and the hard work ahead. As highlighted in our improved financial performance to-date, we are starting to demonstrate the power of BNY’s franchise to our clients and shareholders, and we remain in execution mode to unlock the company’s full potential.”