PNC Financial reports Q1 adjusted EPS $3.36, consensus $3.02

Reports Q1 revenue $5.15B, consensus $5.19B. Reports Q1 tangible book value per share $85.70. Reports Q1 CET1 capital ratio 10.1%. Reports Q1 net charge-offs .3%. The company said, “PNC delivered solid first quarter results generating net income of $1.3 billion which included an additional $130 million pre-tax FDIC special assessment. During the quarter, we grew customers, reduced expenses, increased spot deposits, maintained stable credit quality and continued to build upon our strong liquidity and capital positions. The strength of our balance sheet, diverse business mix, and the quality of our people, position us well for continued growth across our franchise as the year progresses.”