Wells Fargo Q4 2022 net income $2.9B, EPS $0.67, includes $0.70/share litigation charge

WELLS FARGO & COMPANY/MN

2022-FY EPS reported $3.14

Net income $2.9B, diluted EPS $0.67; includes ($0.70)/share impact from litigation, regulatory, customer remediation.
Total revenue $19.66B vs $20.86B YoY, down 5.7%.
Operating losses of $3.3B from historical matters; $1.0B equity impairment in venture capital.
CET1 ratio 10.6% vs 11.4% prior year; provision for credit losses $957M vs ($452M) YoY.
CEO cites CFPB settlement progress; underlying performance improved on rising rates.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WELLS FARGO & COMPANY/MN reported quarter ended December 31, 2022 results: revenue $19,660, net income 2,864, EPS 0.67.

Period: quarter ended December 31, 2022
Revenue: $19,660
Net income: 2,864
EPS: 0.67
Result: reported results

Exact text from the filing

remediation matters Company-wide Financial Summary Quarter ended Dec 31, 2022 Dec 31, 2021 Selected Income Statement Data ($ in millions except per share amounts) Total revenue $ 19,660 20,856 Noninterest expense 16,202 13,198 Provision for credit losses 957 (452) Net income 2,864 5,750 Diluted earnings per common share 0.67 1.38 Selected Balance Sheet Data ($ in

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Source: SEC EDGAR

accession 0000072971-23-000003

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