Truist Financial (NYSE: TFC) Q3 Earnings: Mixed Results with Revenue Miss

• Truist Financial reported Q3 earnings of $1.16 per share, which beat one analyst estimate but fell slightly short of the consensus.
• The bank's Q3 revenue came in at $3.75 billion, missing analyst estimates by $1.61 billion.
• Truist currently trades at approximately 10.6 times trailing earnings, with a debt-to-equity ratio of 1.09.

Truist Financial Corporation (NYSE: TFC) reports earnings of $1.16 per share and revenue of $3.75 billion for the third quarter. The bank provides services such as deposits and loans, competing with other large U.S. banks.

The $1.16 in earnings per share beats the $1.14 estimate in the first set of figures. Earnings per share measures profit divided by the number of shares outstanding. Revenue, however, falls short of the $5.36 billion estimate by $1.61 billion.

The earnings comparison depends on which estimate is used. As highlighted by Zacks, the consensus estimate is $1.17 per share, which puts Truist’s $1.16 result one cent below expectations. Zacks also reports that earnings rise from $1.04 per share a year earlier. Its provided excerpt does not give revenue figures.

Truist trades at about 10.6 times trailing earnings and 1.9 times trailing sales. These ratios compare its share price with the profit and revenue it records over the past 12 months. Its debt-to-equity ratio is 1.09, meaning reported debt is slightly higher than shareholders’ equity.