TCF Financial Earnings: Here’s Why the Stock is Down Now

TCF Financial Corporation (NYSE:TCB) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.44%.

TCF Financial Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 5% to $0.21 in the quarter versus EPS of $0.20 in the year-earlier quarter.

Revenue: Decreased 8.84% to $301.83 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: TCF Financial Corporation reported adjusted EPS income of $0.21 per share. By that measure, the company met the mean analyst estimate of $0.21. It beat the average revenue estimate of $202.08 million.

Quoting Management: “During the second quarter, TCF experienced solid increases throughout its multiple core revenue sources and another quarter of solid improvement in credit trends, said William A. Cooper, Chairman and Chief Executive Officer. Over the last three quarters, TCF has seen continued improvement in our credit metrics, particularly in the consumer real estate portfolio where home values have risen and consumer confidence has strengthened, and we have maintained strong performance in our national businesses.”

Key Stats (on next page)…

Revenue decreased 2.08% from $308.25 million in the previous quarter. EPS increased 31.25% from $0.16 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.24 and has not changed. For the current year, the average estimate has moved down from a profit of $0.87 to a profit of $0.86 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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