Equity Analysis /
United States of America

US : Truist Financial Corporation - TFC | 4Q20 First Look: Stronger Top Line Revs., Lower LLP Drive EPS Beat

    Joseph Yanchunis
    Carl-Harry Doirin
    21 January 2021
    Published byCGS-CIMB

    Event: TFC reported 4Q20 EPS of $0.90. However, ex. items (see table on page 3), we peg core EPS at $1.20 which exceeded our forecast of $0.92 and consensus of $0.86 (range: $0.75 - 1.02). On a core basis, a lower loan loss provision and stronger revenue (both net interest income and fee revenue) m