Truist Financial reports Q3 EPS 97c, consensus 91c

Reports Q3 revenue $5.14B, consensus $5.09B. Reports Q3 tangible book value per share $30.64. Reports Q3 CET1 capital ratio 11.6%. Reports Q3 net charge-offs .55%. The company said, “In the third quarter, we made considerable progress on driving revenue growth through our core banking business by adding new clients, deepening relationships, hiring and developing talented teammates, and investing in technology and infrastructure while maintaining strong expense discipline. Asset quality metrics were better than our expectations. We also returned $1.2 billion of capital to our shareholders in the form of our common stock dividend and share repurchases completed during the quarter. Hurricanes Helene and Milton significantly affected teammates and clients in many communities Truist serves. We are working closely with those impacted by these disasters and are committed to help these communities rebuild. I am particularly proud of Truist teammates living our purpose, which has been on full display these past few weeks. Together, we will continue to deliver on our purpose and care for our clients, which fuel our momentum and growth.”