Truist Q3 net income $1.34B, EPS $0.99; NIM expands, $500M buyback

TRUIST FINANCIAL CORP

2024-Q3 EPS reported $2.44

Net income available to common shareholders $1.34B ($0.99 diluted EPS); adjusted EPS $0.97.
Net interest income (TE) $3.66B (+2.2% QoQ); NIM 3.12% (+10 bps QoQ, +20 bps YoY).
Average loans HFI $303.2B (-1.0% QoQ); average deposits $384.3B (-1.0% QoQ).
CET1 ratio 11.6%; repurchased $500M common shares; dividend $0.52/share (payout ratio 90%).
Provision for credit losses $448M; NCO ratio 0.55% (-3 bps QoQ); ALLL ratio 1.60% (+3 bps).

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