NASDAQ$HBAN

Huntington Bancshares Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported record full-year net income and achievement of medium-term financial targets.

Huntington Bancshares Incorporated reported a net income of $645 million for Q4 2022, with an EPS of $0.42. The quarter was marked by a 4% increase in net interest income and a $1 billion share repurchase authorization.

  • Earnings per common share (EPS) for the quarter were $0.42, an increase of $0.03 from the prior quarter.
  • Net interest income increased $58 million, or 4%, from the prior quarter, reflecting net interest margin expansion of 10 basis points to 3.52% and higher average total loans and leases.
  • Pre-Provision Net Revenue (PPNR) increased $36 million, or 4%, from the prior quarter to $893 million.
  • Board of Directors approved a $1 billion share repurchase authorization for the next eight quarters.

Headline financials

Total Revenue

$1.96B

Previous: $1.65B+19.1%
EPS (adj)

$0.43

Previous: $0.36+19.4%
Net interest margin

3.5%

Previous: 2.8%+23.9%
Efficiency ratio

54.0%

Previous: 73.0%-26.0%
NAL ratio

0.5%

Previous: 0.6%-25.0%
Capital Expenditures

$49M

Previous: $90M-45.6%
Free Cash Flow

$1.31B

Previous: $407M+221.4%
Net Income

$645M

Previous: $401M+60.8%
Gross Profit

$1.96B

Previous: $1.65B+19.1%
Cash & Equivalents

$6.7B

Previous: $174B-96.1%
Total Assets

$183B

Previous: $174B+5.1%
Stock-Based Comp

$23M

Previous: $32M-28.1%

Revenue & EPS history

Huntington · Revenue · Quarterly

$1.96B

Q4 2022+19.1%vs Q4 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Forward guidance

Huntington enters 2023 from a position of strength, well-positioned to navigate various economic scenarios with solid capital levels and a top-tier reserve profile.

Tailwinds

  • Growing capital base
  • Robust profitability profile
  • Share repurchase program announcement
  • Solid capital levels
  • Top tier reserve profile

Headwinds

  • Uncertain economic outlook
  • Potential impact of economic scenarios
  • Risk associated with economic downturns
  • Uncertainties in the economic landscape
  • External factors influencing the business environment

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

-0.3%

Avg return

Earnings day

+0.5%

Avg return

5 days after

+2.5%

Avg return

30 days after

49%

34 / 69 earnings

Positive

+12.5%

Q3 2022

Best reaction

-9.1%

Q3 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.9%-1.6%-5.5%
Q4 2025-5.8%-1.6%-5.5%
Q3 2025+1.0%+3.3%+2.3%
Q2 2025+0.5%-0.6%+6.3%
Q1 2025+3.0%+5.0%+21.9%
Q4 2024+1.5%+0.1%-0.7%
Q3 2024-3.0%-1.9%+11.7%
Q2 2024+5.0%+4.3%-2.8%
Q1 2024+2.7%+4.4%+7.8%
Q4 2023+5.6%+6.9%+5.1%
Q3 2023-4.6%-5.6%+10.5%
Q2 2023+2.1%+2.6%-6.1%
Q1 2023-3.4%-7.6%-14.1%
Q4 2022+5.1%+5.2%+9.8%
Q3 2022+12.5%+13.0%+12.8%
Q2 2022+0.5%-0.6%+8.6%
Q1 2022-3.4%-4.7%-8.6%
Q4 2021-6.2%-7.5%-5.0%
Q3 2021-1.4%-1.0%-3.8%
Q2 2021+0.6%+3.3%+11.9%
Q1 2021-3.9%-1.9%+1.5%
Q4 2020-7.1%-8.5%+5.4%
Q3 2020+8.0%+2.6%+21.3%
Q2 2020+4.0%-1.1%-1.3%
Q1 2020+1.5%+13.7%+0.7%
Q4 2019-6.9%-7.7%-5.6%
Q3 2019+0.1%-0.1%+2.7%
Q2 2019+1.9%+0.7%-13.2%
Q1 2019+0.0%+1.3%-3.9%
Q4 2018-0.1%+0.0%+5.7%
Q3 2018-3.7%-0.4%+5.6%
Q2 2018+0.1%+1.3%+6.0%
Q1 2018+0.3%+0.9%+0.9%
Q4 2017+0.5%+1.1%-1.9%
Q3 2017-2.1%-3.1%-5.3%
Q2 2017-2.7%-2.8%-6.6%
Q1 2017-0.6%+1.5%-1.8%
Q4 2016+5.7%+2.8%+7.0%
Q3 2016+5.5%+4.0%+23.3%
Q2 2016+0.4%+1.8%+2.9%
Q1 2016+1.1%
Q4 2015-1.2%
Q3 2015+4.8%
Q2 2015+1.4%
Q1 2015-2.1%
Q4 2014+2.9%
Q3 2014-0.8%
Q2 2014+4.7%
Q1 2014-2.7%
Q4 2013-2.7%
Q3 2013+3.5%
Q2 2013+1.7%
Q1 2013-5.0%
Q4 2012+4.2%
Q3 2012-8.5%
Q2 2012-4.1%
Q1 2012+1.6%
Q4 2008+1.3%
Q4 2011+1.3%
Q3 2011-9.1%
Q2 2011-3.0%
Q1 2011-1.2%
Q1 2010-1.2%
Q2 2009-6.7%
Q4 2010-6.7%
Q3 2010-1.1%
Q3 2009-1.1%
Q4 2009-2.1%
Q2 2010-2.1%

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