KeyCorp Q1 net income $275M ($0.30 EPS) down 34.5% YoY; margin compresses

KEYCORP /NEW/

2023-Q1 EPS reported $0.30 revenue$1,714,000,000

Net income $275M ($0.30 diluted EPS) vs $420M ($0.45) YoY, down 34.5%.
Total revenue (TE) $1.714B up 1.1% YoY; net interest margin 2.47% down 26 bps QoQ.
Provision for credit losses $139M, up 67.5% YoY; net charge-offs 0.15% of avg loans.
Average loans $119.8B up 15.5% YoY; average deposits $143.4B down 4.5% YoY.
CET1 ratio 9.1%; dividend $0.205/share; $752M remaining in buyback authorization.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

KEYCORP /NEW/ reported first quarter ended March 31, 2023 results: net income $275 million, EPS $.30 per diluted common share.

Period: first quarter ended March 31, 2023
Net income: $275 million
EPS: $.30 per diluted common share
Result: reported results

Exact text from the filing

KeyCorp (NYSE: KEY) today announced net income from continuing operations attributable to Key common shareholders of $275 million, or $.30 per diluted common share for the first quarter of 2023.

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Source: SEC EDGAR

accession 0000091576-23-000062

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