BB&T's (BBT) Q3 Earnings Beat Estimates, Expenses Decline

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Have you been eager to see how BB&T Corporation BBT performed in Q3 in comparison with the market expectations? Let's quickly scan through the key facts from this North Carolina-based diversified financial holding company's earnings release this morning:

Earnings Beat

BB&T came out with adjusted earnings per share of $1.03, surpassing the Zacks Consensus Estimate of $1.00.

Rise in revenues and lower expenses supported results.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for BB&T depicted a neutral stance prior to the earnings release. The Zacks Consensus Estimate has remained stable over the last 30 days.

Notably, BB&T has a decent earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprises in two and matched in two of the trailing four quarters.

Overall, on an average the company posted positive earnings surprise of 2% in the trailing four quarters.

BB&T Corporation Price and EPS Surprise

BB&T Corporation Price and EPS Surprise | BB&T Corporation Quote

Revenues Beat Expectation

BB&T posted total revenues of $2.93 billion, outpacing the Zacks Consensus Estimate of $2.91 billion.

Key Statistics to Note:

  • After considering merger-related and restructuring charges, net income was $789 million or $1.01 per share
  • Net interest margin was 3.47%
  • Adjusted Efficiency ratio of 57.3%
  • Average loans and leases held for investment were $146.2 billion
  • Average deposits were $157.3 billion
  • Common equity Tier 1 ratio was 10.2% as of Sep 30, 2018

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BB&T. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.

(You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .)

Check back later for our full write up on this BB&T earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Earnings , Investing Ideas , Stocks
Referenced Symbols: BBT

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