Markets

BB&T (BBT) Beats on Q3 Earnings, Revenues Grow

Have you been eager to see how BB&T CorporationBBT 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:

An Earnings Beat

BB&T came out with adjusted earnings per share of 70 cents, beating the Zacks Consensus Estimate of 66 cents.

Growth in top line, partially offset by a rise in expenses contributed to this earnings beat.

How Was the Estimate Revision Trend?

You should note that the earnings estimate revisions for BB&T depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved 2.9% lower over the last 7 days.

However, BB&T has a decent earnings surprise history. Before posting the earnings beat in Q3, the company delivered positive surprise in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 0.68% in the trailing four quarters.

Revenue Came In Higher Than Expected

BB&T posted total revenues of $2.49 billion, which surpassed the Zacks Consensus Estimate of $2.46 billion. Moreover, it came 6.6% above the year-ago number.

Key Statistics to Note:

The successful acquisition of Susquehanna, coupled with organic balance sheet growth, has pushed BB&T above $200 billion in assets.

The Susquehanna acquisition contributed around $150 million in revenues since August 1 and is expected to augment growth within the newly expanded footprint.

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.

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

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

BB&T CORP (BBT): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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


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

Other Topics

Earnings Investing Stocks

Latest Markets Videos

Zacks

Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

Learn More