Financial services company Truist Financial Corp (NYSE: TFC) announced operating results for the third quarter of 2024, reporting an increase in revenue and adjusted profit.
- Net income available to common shareholders was $1.3 billion or $0.99 per share for the third quarter, vs. $1.07 billion or $0.80 per share in Q3 2023
- Third-quarter adjusted earnings increased sharply to $0.97 per share from $0.80 per share in the prior-year quarter
- Total revenues increased to $5.14 billion in the September quarter from $4.93 billion in the same period last year
- Q3 net interest income rose to $3.66 billion from $3.59 billion in the year-ago period; non-interest income moved up 11% Y-o-Y to $1.48 billion
- Non-interest expense decreased 4% annually to $2.93 billion in Q3; return on average common equity was 9.1%, vs. $7.5% a year earlier
- Pre-provision net revenue came in at $2.21 billion in the third quarter, compared to $1.87 billion last year