BB & T Earnings: Here’s Why Investors Don’t Like These Results
BB & T Corp. (NYSE:BBT) delivered a profit and beat Wall Street’s expectations, AND met the revenue expectation. Shares are down 1.13%.
BB & T Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.11% to $0.69 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Decreased 6% to $2.46 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: BB & T Corp. reported adjusted EPS income of $0.69 per share. By that measure, the company beat the mean analyst estimate of $0.63. It met the average revenue estimate of $2.46 billion.
Quoting Management: “We are pleased to report strong earnings for the first quarter despite a challenging environment for lending,” said Chairman and Chief Executive Officer Kelly S. King. “Earnings reflect a strong performance from our insurance group and a record production quarter from our mortgage group.”
Key Stats (on next page)…