BB & T Earnings: Here’s Why Investors Don’t Like These Results
BB & T Corp. (NYSE:BBT) delivered a profit and beat Wall Street’s expectations, AND met the revenue expectation. Shares are down 1.13%.
BB & T Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.11% to $0.69 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Decreased 6% to $2.46 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: BB & T Corp. reported adjusted EPS income of $0.69 per share. By that measure, the company beat the mean analyst estimate of $0.63. It met the average revenue estimate of $2.46 billion.
Quoting Management: “We are pleased to report strong earnings for the first quarter despite a challenging environment for lending,” said Chairman and Chief Executive Officer Kelly S. King. “Earnings reflect a strong performance from our insurance group and a record production quarter from our mortgage group.”
Key Stats (on next page)…
Revenue decreased 10.25% from $2.74 billion in the previous quarter. EPS decreased 2.82% from $0.71 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.75 to a profit $0.74. For the current year, the average estimate has moved down from a profit of $2.94 to a profit of $2.88 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)