Truist posts Q4 GAAP loss of $5.2B on $6.1B goodwill impairment; adjusted EPS $0.81

TRUIST FINANCIAL CORP

2023-FY EPS reported -$1.09

GAAP net loss of $5.2B ($3.85/share) includes $6.1B non-cash goodwill impairment, $507M FDIC special assessment.
Adjusted net income of $1.1B ($0.81/share), up from $1.07B in Q3; adjusted PPNR up 8.6% to $2.4B.
CET1 ratio improved 20 bps to 10.1% from organic capital generation and RWA optimization.
Average loans and deposits declined 1.7% and 1.4% sequentially; NIM up 3 bps to 2.98%.
Asset quality: NPA down 6%, ALLL ratio up 5 bps to 1.54%, NCO ratio 57 bps (up 6 bps).

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TRUIST FINANCIAL CORP reported fourth quarter 2023 results: net income Net loss was $5.2 billion, EPS $3.85 per diluted share.

Period: fourth quarter 2023
Net income: Net loss was $5.2 billion
EPS: $3.85 per diluted share
Result: reported results

Exact text from the filing

On January 18, 2024, Truist Financial Corporation (“Truist”) issued a press release announcing its reporting of fourth quarter 2023 results

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TRUIST FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0000092230-24-000003

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