
KeyCorp (NYSE: KEY) reported its Q3 2024 earnings, surpassing expectations with an adjusted earnings per share (EPS) of $0.30, compared to the expected $0.15. The company also reported revenue of $0.695 billion, which fell short of the anticipated $1.27 billion, largely due to a $737 million after-tax charge related to the loss on the sale of securities. Despite this, KeyCorp's profit rose on higher fees and interest income. The company provided guidance indicating that net interest income is expected to fall within the full-year guidance range of down 2% to 5%, with a positive impact of about 150 basis points from the Scotiabank investment and recent securities portfolio restructuring. KeyCorp also reported a $918 million loss from asset sales.
KeyCorp Beats EPS Estimates Despite $918M Loss from Asset Sales, Reports Strong Net Interest Income $KEY #stocks #investing #valueinvesting #Momentum #Bank #US https://t.co/y1vnpoERZ2
$KEY Guidance: "We currently expect net interest income to fall in the middle of the full year guidance range of down 2% to 5%, albeit with about 150 basis points of positive impact from the Scotiabank investment and the securities portfolio restructuring this past month. Net… https://t.co/uLBoqCX3dG
$KEY Q3 2024 Adj. EPS 0.30 (exp. 0.15) Revenue 0.695bln (exp. 1.27bln) (Included -737mln after-tax charges related to the loss on the sale of securities); NII 964mln (exp. 948.5mln)
