NYSE$FNB

F.N.B. Corporation · Q2 2023 earnings

Q2 2023 earnings · · Investor relations

Briefing

Reported earnings with increased net interest income and maintained a strong capital position.

F.N.B. Corporation reported a solid performance for the second quarter of 2023, with earnings per diluted common share growing 30% compared to the prior year. The company's liquidity metrics remain favorable, and the capital position is strong, with CET1 at the targeted operating level of 10%.

  • Earnings per diluted common share grew 30% compared to the prior year.
  • Liquidity metrics continue to be favorable.
  • Capital position remains strong with CET1 at the targeted operating level of 10%.
  • Efficiency ratio (non-GAAP) equaled 50%.

Headline financials

Total Revenue

$410M

Previous: $336M+22.0%
EPS (adj)

$0.39

Previous: $0.31+25.8%
Efficiency Ratio

50.0%

Previous: 55.2%-9.4%
Net Interest Margin

3.4%

No prior period
Capital Expenditures

-$60M

Previous: -$50M-20.0%
Free Cash Flow

$82M

Previous: $59M+39.0%
Net Income

$142M

Previous: $109M+30.3%
Operating Income

$186M

Previous: $256M-27.3%
Gross Profit

$391M

Previous: $330M+18.5%
Cash & Equivalents

$1.7B

Previous: $2.03B-16.0%
Total Assets

$44.8B

Previous: $41.7B+7.4%

Revenue & EPS history

FNB · Revenue · Quarterly

$410M

Q2 2023+22%vs Q2 2022
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

FNB · $78.3M total across 9 segments · Q1 2022

  • Service Charges
    $31.5M+13.2%
  • Trust Services
    $10.3M+13.9%
  • Insurance Commissions
    $7.61M+5.8%
  • Capital Markets
    $7.13M-7.6%
  • Mortgage Banking
    $6.67M-57.6%
  • Securities Commissions
    $5.69M+1.3%
  • Other Income
    $4.58M+4.5%
  • Bank Owned Life Ins.
    $2.64M-10.4%
  • Dividends on Equity Secs
    $2.15M-5.5%

Forward guidance

FNB is positioned to drive continued shareholder value in the second half of the year.

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 Q2 2023

Historical avgQ2 2023

-0.3%

Avg return

Earnings day

+0.6%

Avg return

5 days after

+2.4%

Avg return

30 days after

43%

30 / 69 earnings

Positive

+7.7%

Q1 2019

Best reaction

-12.1%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.7%-0.6%-3.8%
Q4 2025+3.0%+0.6%+6.1%
Q3 2025+2.9%+4.5%+8.3%
Q2 2025-1.6%-0.4%+2.7%
Q1 2025+3.1%+5.6%+18.0%
Q4 2024-2.3%-1.8%-7.2%
Q3 2024-1.0%-2.8%+11.8%
Q2 2024-6.5%-3.6%-8.1%
Q1 2024-0.2%+4.3%+10.6%
Q4 2023+2.8%+3.8%+4.1%
Q3 2023-2.1%-5.9%+6.0%
Q2 2023+1.2%+1.3%-5.2%
Q1 2023+3.7%+1.0%-1.9%
Q4 2022+4.9%+6.3%+9.2%
Q3 2022+5.3%+6.5%+5.5%
Q2 2022+1.0%+2.9%+10.6%
Q1 2022+2.6%-0.2%-5.0%
Q4 2021-4.3%-5.2%-1.4%
Q3 2021+2.8%+1.3%+4.2%
Q2 2021-0.5%+0.0%+0.8%
Q1 2021-4.9%-0.5%+2.8%
Q4 2020-2.3%-4.2%+2.4%
Q3 2020+0.4%+4.7%+17.1%
Q2 2020-0.9%+1.2%+5.7%
Q1 2020+1.7%+12.1%-0.8%
Q4 2019-1.9%-5.2%-6.7%
Q3 2019-0.2%+0.9%+4.2%
Q2 2019+3.3%+3.3%-7.2%
Q1 2019+7.7%+8.1%+2.5%
Q4 2018+1.1%+1.0%+8.0%
Q3 2018-1.3%+0.2%+7.6%
Q2 2018-8.3%-6.2%-1.3%
Q1 2018-0.9%+0.0%+2.1%
Q4 2017-0.2%-0.9%-1.7%
Q3 2017-2.6%-1.9%-5.0%
Q2 2017-6.1%-1.9%-9.7%
Q1 2017+2.1%-2.0%-6.2%
Q4 2016-0.5%-0.8%+2.4%
Q3 2016+4.8%+6.7%+21.5%
Q2 2016-8.1%-9.4%-6.7%
Q1 2016-0.2%
Q4 2015-0.3%
Q3 2015+5.7%
Q2 2015-3.6%
Q1 2015-0.7%
Q4 2014+3.7%
Q3 2014-3.3%
Q2 2014+2.1%
Q1 2014-1.5%
Q4 2013+2.1%
Q3 2013+2.9%
Q2 2013+1.4%
Q1 2013+0.9%
Q4 2012+0.6%
Q3 2012+1.2%
Q2 2012-2.3%
Q1 2012+2.0%
Q4 2011-2.8%
Q4 2009-2.8%
Q4 2010-2.8%
Q3 2011-3.8%
Q2 2011-12.1%
Q1 2010+3.9%
Q1 2011+0.3%
Q4 2008-0.2%
Q3 2009-0.5%
Q3 2010-0.5%
Q2 2009-3.7%
Q2 2010-3.7%

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