NYSE$TFC
Truist Financial Corp · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported GAAP earnings of $1.4 billion, or $1.05 per share, with PPNR up 47% and adjusted PPNR up 19% compared to 1Q22. Capital, liquidity, and credit quality remained strong.
Truist reported first quarter 2023 results with GAAP earnings of $1.4 billion, or $1.05 per share. Adjusted PPNR was up 19% from the year-ago quarter due to NIM expansion and strong loan growth. Asset quality remained strong with the net charge-off ratio at 37 basis points, and capital and liquidity levels remained strong with a CET1 ratio of 9.1%.
- Net income was $1.4 billion, or $1.05 per diluted share, including $63 million of merger-related and restructuring charges.
- Adjusted PPNR was $2.7 billion, down 7.2% compared to the prior quarter but up 19% from the year-ago quarter.
- Average loans and leases increased 1.7% compared to the prior quarter, driven by growth within the commercial and industrial portfolio.
- Asset quality remained strong with the net charge-off ratio at 37 basis points, stable nonperforming loans, and lower delinquencies.
Headline financials
Revenue & EPS history
Truist · Revenue · Quarterly
$6.1B
Forward guidance
Truist's CEO remains highly confident in Truist’s trajectory and ability to be a source of strength and stability for its clients and communities.
Tailwinds
- TIH minority stake sale closed April 3, which adds approximately 30 basis points to risk-based capital ratios.
- Improved organic production and integrated relationship management momentum.
- Asset quality metrics remain strong.
- Focus on clients remained unwavering.
- Diverse business model, granular and relationship-oriented deposit base, and strong capital and liquidity position.
Headwinds
- Challenging and unique quarter for the banking industry.
- Higher-than-expected funding costs.
- Adjusted pre-provision net revenue decreased 7.2% sequentially.
- Work remains to achieve positive adjusted operating leverage.
- Increased economic uncertainty.
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 Q1 2023
+0.3%
Avg return
Earnings day
-0.0%
Avg return
5 days after
+0.9%
Avg return
30 days after
51%
37 / 72 earnings
Positive
+9.8%
Q2 2009
Best reaction
-9.5%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | +0.4% | +3.1% | -5.0% | |
| Q1 2026 | +1.7% | +3.1% | -5.0% | |
| Q3 2025 | +3.8% | +6.1% | +9.2% | |
| Q2 2025 | +0.3% | -1.4% | +0.9% | |
| Q1 2025 | -0.3% | +0.9% | +15.0% | |
| Q3 2024 | -1.9% | -2.6% | +4.5% | |
| Q2 2024 | +4.1% | +4.7% | -0.8% | |
| Q1 2024 | +3.2% | +8.9% | +12.1% | |
| Q4 2023 | +4.7% | +2.9% | +0.9% | |
| Q3 2023 | -5.5% | -4.1% | +11.2% | |
| Q2 2023 | -7.1% | -8.5% | -19.1% | |
| Q1 2023 | -9.5% | -12.5% | -14.6% | |
| Q4 2022 | +4.8% | +5.7% | +6.0% | |
| Q3 2022 | -4.5% | -6.6% | +1.6% | |
| Q2 2022 | +2.0% | +2.2% | +9.2% | |
| Q1 2022 | -0.2% | -3.4% | -12.4% | |
| Q4 2021 | -4.2% | -8.8% | -7.2% | |
| Q3 2021 | +1.8% | +5.3% | +3.4% | |
| Q2 2021 | -0.1% | -0.7% | +5.4% | |
| Q1 2021 | -3.1% | -6.6% | +3.3% | |
| Q4 2020 | -0.9% | -2.7% | +11.5% | |
| Q3 2020 | -1.4% | -0.3% | +11.7% | |
| Q2 2020 | -1.7% | +0.9% | +7.0% | |
| Q1 2020 | +1.9% | +6.2% | +1.1% | |
| Q4 2019 | -4.3% | -1.3% | -14.3% | |
| Q3 2019 | +1.8% | +1.2% | +3.1% | |
| Q2 2019 | -3.4% | -7.8% | -7.3% | |
| Q1 2019 | +3.2% | +4.0% | +10.0% | |
| Q4 2018 | -0.4% | +1.1% | -9.7% | |
| Q3 2018 | +1.6% | +4.6% | +7.1% | |
| Q2 2018 | +0.7% | +0.1% | +1.3% | |
| Q1 2018 | -2.1% | +1.6% | +1.5% | |
| Q4 2017 | -0.5% | +2.2% | -7.2% | |
| Q3 2017 | +1.0% | +1.9% | -4.7% | |
| Q2 2017 | +0.9% | +2.2% | -1.6% | |
| Q1 2017 | -1.1% | -2.8% | -4.5% | |
| Q4 2016 | +0.4% | +0.3% | -7.6% | |
| Q3 2016 | +0.2% | +0.9% | +15.0% | |
| Q2 2016 | +0.3% | -0.9% | +2.7% | |
| Q1 2016 | -0.1% | — | — | |
| Q4 2015 | +4.1% | — | — | |
| Q3 2015 | +0.1% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | -1.3% | — | — | |
| Q4 2014 | +0.5% | — | — | |
| Q3 2014 | +1.6% | — | — | |
| Q2 2014 | -1.3% | — | — | |
| Q1 2014 | +1.5% | — | — | |
| Q4 2013 | -0.1% | — | — | |
| Q3 2013 | -1.6% | — | — | |
| Q2 2013 | -0.1% | — | — | |
| Q4 2012 | +1.9% | — | — | |
| Q1 2013 | -1.6% | — | — | |
| Q4 2011 | +2.5% | — | — | |
| Q3 2012 | -1.3% | — | — | |
| Q2 2012 | +0.2% | — | — | |
| Q1 2012 | -0.2% | — | — | |
| Q3 2011 | -4.7% | — | — | |
| Q2 2011 | -4.6% | — | — | |
| Q1 2011 | -0.3% | — | — | |
| Q4 2009 | -0.3% | — | — | |
| Q4 2010 | -0.3% | — | — | |
| Q3 2010 | +0.4% | — | — | |
| Q2 2010 | +2.3% | — | — | |
| Q1 2009 | +5.6% | — | — | |
| Q1 2010 | +1.6% | — | — | |
| Q4 2007 | -1.5% | — | — | |
| Q3 2009 | +2.5% | — | — | |
| Q3 2008 | +2.5% | — | — | |
| Q2 2008 | +9.8% | — | — | |
| Q4 2008 | +9.8% | — | — | |
| Q2 2009 | +9.8% | — | — |
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