Fifth Third Bancorp Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Fifth Third Bancorp (NASDAQ:FITB) will unveil its latest earnings tomorrow, Thursday, January 17, 2013. Fifth Third Bancorp is a diversified financial services company which conducts its lending, deposit gathering, transaction processing and service advisory activities through its subsidiaries.

Fifth Third Bancorp Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for net income of 42 cents per share, a rise of 27.3% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 39 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 42 cents during the last month. Analysts are projecting profit to rise by 38.1% versus last year to $1.63.

Past Earnings Performance: Last quarter, the company saw profit of 39 cents per share versus a mean estimate of net income of 39 cents per share. This comes after two consecutive quarters of exceeding expectations.

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Wall St. Revenue Expectations: On average, analysts predict $1.64 billion in revenue this quarter, a rise of 11.6% from the year-ago quarter. Analysts are forecasting total revenue of $6.4 billion for the year, a rise of 6.5% from last year’s revenue of $6.01 billion.

A Look Back: In the third quarter, profit fell 4.7% to $363 million (38 cents a share) from $381 million (40 cents a share) the year earlier, meeting analyst expectations. Revenue fell 1.5% to $1.69 billion from $1.72 billion.

Here’s how Fifth Third Bancorp traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week:


Analyst Ratings: With 11 analysts rating the stock as a buy, one rating it as a sell and 12 rating it as a hold, there are indications of a bullish outlook.

Key Stats:

On the top line, the company is looking to get back on the right track after last quarter’s drop snapped a string of revenue increases. Revenue rose 0.2% in the second quarter and 10% in the first quarter before falling in the third quarter.

After last quarter’s profit drop broke a string of income increases, this earnings announcement is definitely a chance for a rebound. Net income rose 62.3% in the first quarter and 14.2% in the second quarter before dropping in the third quarter.

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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)