Overview
- Truist reported third-quarter net income of $1.35 billion, or $1.04 per share, beating the $0.99 consensus.
- Net interest income rose year over year to about $3.63 billion, aided by a more favorable funding backdrop.
- Wealth management income increased 6.9% to $374 million, while investment banking and trading declined 2.7%.
- Management reaffirmed full-year guidance calling for 1.5% to 2.5% adjusted revenue growth and about 1% expense growth.
- The company completed $500 million in share repurchases and expects to buy back another $750 million in the fourth quarter, with Q3 ROTCE at 13.6% and a 15% goal for 2027.