BNY Mellon reports Q3 adjusted EPS $1.52, consensus $1.42

Reports Q3 revenue $4.65B, consensus $4.54B. Reports Q3 tangible book value per share $28.01. Reports Q3 CET1 capital ratio 11.9%. The company said, “BNY reported strong third quarter results, reflecting growth across our three business segments and consistent execution against our strategic priorities, with assets under custody and/or administration exceeding $50 trillion for the first time. The company reported earnings per share of $1.50, up 22% year-over-year. Excluding the impact of notable items, earnings per share were $1.52, up 20% year-over-year, and we generated a return on tangible common equity of 23% in the third quarter. Our actions to run our company better, including our ongoing transition to a platforms operating model, are starting to deliver progress toward our medium-term financial targets and additional capacity to reinvest for growth through new and enhanced client solutions. In the third quarter, this focus on being more for our clients included the announcement of the planned acquisition of Archer, that will deliver an enterprise solution to clients in the fast-growing managed account ecosystem, and the introduction of Alts Bridge to broaden investor access to Alternatives. Powering our one-BNY culture is essential to continued execution, and I want to thank our employees for their hard work. The combination of our talented team, our portfolio of leading businesses working together, and the strength of our balance sheet, gives us a great foundation to deliver more to our clients and drive sustainable, long-term shareholder value.”