Reports Q4 revenue $5.76B, consensus $5.71B. Reports Q4 tangible book value per share $72.12. Reports Q4 CET1 ratio 9.1%. Bill Demchak, PNC Chairman, President and CEO said, "By focusing on serving customers and communities, PNC delivered strong results in 2022. Capitalizing on opportunities across our coast to coast franchise, we grew loans and generated record revenue during a rapidly rising rate environment. At the same time, we controlled expenses and delivered substantial positive operating leverage. Our credit quality metrics remained strong and our solid capital position allowed us to return $6 billion of capital to shareholders throughout the year. As we enter 2023, we are well positioned to continue generating value for our stakeholders."
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Read More on PNC:
- PNC REPORTS FULL YEAR 2022 NET INCOME OF $6.1 BILLION, $13.85 DILUTED EPS OR $13.96 AS ADJUSTED
- Notable companies reporting before tomorrow’s open
- PNC Financial downgraded to Neutral from Buy at UBS
- PNC Financial upgraded to Buy from Hold at Odeon Capital
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