NYSE$KEY
KeyCorp · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported a net loss due to charges related to the loss on the sale of securities, while underlying results showed solid momentum in client relationships, deposits, and business-related fees.
KeyCorp reported a net loss of $(447) million for Q3 2024, or $(0.47) per diluted common share, but an adjusted net income of $290 million, or $0.30 per diluted common share. The results were impacted by a $737 million after-tax charge related to the loss on the sale of securities. Net interest income increased by 7% quarter-over-quarter, and average deposits were up 2.5%.
- Received initial $821 million tranche of strategic minority investment from Scotiabank.
- Common Equity Tier 1 ratio of 10.8% and Tangible Common Equity ratio of 6.2%.
- Net interest income up 7% quarter-over-quarter, with average deposits up 2.5%.
- Continued strong fee momentum across investment banking, commercial mortgage servicing, commercial payments, and wealth management.
Headline financials
Revenue & EPS history
KeyCorp · Revenue · Quarterly
$695M
Revenue by segment
KeyCorp · $1.57B total across 3 segments · Q3 2023
- Consumer Bank$791M-11.2%50.5%
- Commercial Bank$790M-11.1%50.4%
- Other-$15M-114.2%-1.0%
Forward guidance
KeyCorp anticipates further net interest income tailwinds and a stable-to-improved credit outlook.
Tailwinds
- Strong pipelines in investment banking and debt placement.
- Continued momentum in wealth management and commercial payments.
- Expected further net interest income tailwinds in the quarters ahead.
- Stable-to-improved credit outlook.
- Completion of the final tranche of the equity financing in the first quarter of 2025, subject to Fed approval.
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 Q3 2024
-0.4%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+3.1%
Avg return
30 days after
49%
36 / 73 earnings
Positive
+8.2%
Q3 2016
Best reaction
-9.4%
Q2 2009
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | -0.3% | +2.5% | -2.4% | |
| Q1 2026 | -0.4% | +2.5% | -2.4% | |
| Q3 2025 | -5.5% | -1.1% | -0.6% | |
| Q2 2025 | +0.4% | -0.4% | +4.6% | |
| Q1 2025 | +1.4% | +0.7% | +18.2% | |
| Q4 2024 | -5.5% | -3.4% | -3.9% | |
| Q3 2024 | -2.0% | -3.0% | +8.2% | |
| Q2 2024 | -3.8% | -2.2% | +1.1% | |
| Q1 2024 | +1.4% | +2.0% | +6.7% | |
| Q4 2023 | +0.7% | +4.1% | +1.7% | |
| Q3 2023 | -7.4% | -8.1% | +15.4% | |
| Q2 2023 | +0.2% | +1.8% | -5.1% | |
| Q1 2023 | -6.4% | -15.3% | -20.7% | |
| Q4 2022 | +1.2% | +4.0% | +11.1% | |
| Q3 2022 | +2.5% | +7.8% | +12.9% | |
| Q2 2022 | -0.6% | -2.8% | +6.4% | |
| Q1 2022 | -4.8% | -8.5% | -15.8% | |
| Q4 2021 | -3.1% | -2.7% | +0.2% | |
| Q3 2021 | +1.3% | +0.7% | -1.5% | |
| Q2 2021 | +5.0% | +3.3% | +6.8% | |
| Q1 2021 | +0.1% | +1.7% | +11.8% | |
| Q4 2020 | -0.5% | -4.5% | +10.2% | |
| Q3 2020 | +0.0% | -0.6% | +17.2% | |
| Q2 2020 | +2.2% | -0.4% | -1.6% | |
| Q1 2020 | +4.8% | +0.1% | -5.7% | |
| Q4 2019 | -1.7% | -2.7% | +0.3% | |
| Q3 2019 | +0.5% | +2.5% | +7.2% | |
| Q2 2019 | +6.2% | +6.6% | -4.6% | |
| Q1 2019 | -1.0% | +0.1% | -2.4% | |
| Q4 2018 | +0.6% | +0.9% | +4.5% | |
| Q3 2018 | -4.8% | -7.5% | -2.4% | |
| Q2 2018 | +1.1% | +3.2% | +6.4% | |
| Q1 2018 | +5.2% | +6.4% | +7.3% | |
| Q4 2017 | -0.5% | +1.6% | -1.1% | |
| Q3 2017 | -0.5% | -0.6% | -1.5% | |
| Q2 2017 | -5.5% | -3.1% | -7.8% | |
| Q1 2017 | +4.5% | +7.2% | +2.1% | |
| Q4 2016 | -1.5% | -0.4% | +4.6% | |
| Q3 2016 | +8.2% | +7.4% | +33.7% | |
| Q2 2016 | -0.9% | +0.2% | +5.0% | |
| Q1 2016 | +3.6% | — | — | |
| Q4 2015 | +1.1% | — | — | |
| Q3 2015 | +3.9% | — | — | |
| Q2 2015 | -2.3% | — | — | |
| Q1 2015 | -0.7% | — | — | |
| Q4 2014 | +7.6% | — | — | |
| Q3 2014 | -5.4% | — | — | |
| Q2 2014 | -3.5% | — | — | |
| Q1 2014 | +0.9% | — | — | |
| Q4 2013 | -8.6% | — | — | |
| Q3 2013 | +5.8% | — | — | |
| Q2 2013 | +3.3% | — | — | |
| Q1 2013 | -1.3% | — | — | |
| Q4 2012 | -0.1% | — | — | |
| Q3 2012 | +3.9% | — | — | |
| Q4 2011 | +3.4% | — | — | |
| Q2 2012 | +0.8% | — | — | |
| Q1 2012 | -1.5% | — | — | |
| Q3 2011 | +2.5% | — | — | |
| Q2 2011 | -8.5% | — | — | |
| Q1 2011 | +0.2% | — | — | |
| Q4 2009 | +1.1% | — | — | |
| Q4 2010 | +1.1% | — | — | |
| Q3 2010 | -1.2% | — | — | |
| Q2 2010 | -1.1% | — | — | |
| Q1 2009 | -7.7% | — | — | |
| Q1 2010 | +0.5% | — | — | |
| Q4 2007 | -1.5% | — | — | |
| Q3 2009 | +5.8% | — | — | |
| Q3 2008 | +5.8% | — | — | |
| Q2 2008 | -9.4% | — | — | |
| Q2 2009 | -9.4% | — | — | |
| Q4 2008 | -9.4% | — | — |
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