PNC Climbs 3% on Q2 Earnings, with EPS Beat, Net Interest Income Dip
PNC Climbs 3% on Q2 Earnings, with EPS Beat, Net Interest Income Dip
$PNC Financial Services (PNC.US)$ shares are trading higher after it reported second-quarter FY24 results.
$PNC金融服务集团 (PNC.US)$报告2024财年第二季度业绩后，其股票价格出现上涨。
The bank reported a revenue increase of 2% Y/Y to $5.411 billion, slightly missing the consensus of $5.412 billion. Revenue increased Y/Y led by higher noninterest income.
该银行报告称营业收入同比增长2%至541.1亿美元，略低于预估的541.2亿美元。营业收入同比增长，主要得益于非利息收入的增长。
Net interest income fell 6% Y/Y to $3.30 billion, with a net interest margin declining to 2.60% from 2.79% prior year quarter due to increased funding costs and lower loan balances.
净利息收益下降6%至33亿美元，净利息收益率由去年同期的2.79%降至2.60%，原因是增加了资金成本和贷款余额减少。
Noninterest income grew 18% Y/Y to $2.11 billion, led by higher fee income on growth across all categories.
非利息收入同比增长18%至21.1亿美元，主要得益于所有类别的费用收入增长。
Average loans fell 1% Y/Y, and average deposits decreased 2% Y/Y in the second quarter. Adjusted EPS of $3.30 topped the consensus of $2.98.
平均贷款同比下降1％，平均存款同比下降2％。调整后的每股收益为3.30美元，超过预估的2.98美元。
The company reported a provision for credit losses of $235 million in the quarter (vs. $146 million a year ago), reflecting portfolio activity. CET1 capital ratio stood at 10.2% vs. 9.5% in the prior year quarter.
该公司今年季度的信贷损失准备金为2.35亿美元（去年同期为1.46亿美元），反映出投资组合的活动。普通股一级资本充足率较去年同期的9.5%上升至10.2％。
During the second quarter of 2024, PNC engaged in the Visa exchange program, enabling it to monetize 50% of its Visa Class B-1 shares and converting the remainder into 1.8 million Visa Class B-2 shares, resulting in a gain of $754 million.
在2024年第二季度，PNC参加了维萨交易计划，使其能够将50％的维萨B-1类股份货币化，并将其余部分转换为180万股维萨B-2类股份，带来了7,540万美元的收益。
On July 2, PNC's board of directors increased a quarterly cash dividend per share to $1.60 (from $1.55), payable on August 5, 2024, to shareholders of record as of July 15, 2024.
2024财年7月2日，董事会将每股股息提高至1.6美元（从1.55美元），派发日为2024年8月5日，股权登记日为2024年7月15日。
PNC returned $0.7 billion of capital to shareholders, comprising share repurchases over $0.1 billion in the quarter.
PNC向股东返还了7亿美元的资本，其中包括季度内超过1亿美元的股票回购。
Bill Demchak, Chairman and CEO, said, "PNC delivered strong results in the second quarter; generating positive operating leverage through revenue growth and well controlled expenses while adding customers, and strengthening our capital levels. Importantly, net interest income and net interest margin increased, marking the beginning of our growth trajectory towards expected record NII in 2025."
董事长兼首席执行官Bill Demchak表示：“PNC在第二季度取得了强劲的业绩;通过收入增长和良好的控制费用来实现正的运营杠杆，同时增加客户并加强资本水平。重要的是，净利息收益和净利息收益率都增加了，标志着我们的增长轨迹迈向2025年的预计纪录净利息收益。”
"In June, the Federal Reserve announced the results of the annual stress test and PNC's start-to-trough CET1 ratio depletion was 1.6%, the best in our peer group."
“6月，美联储公布了年度压力测试结果，而PNC从开始到低谷的CET1比率下降了1.6％，是我们同行业中最好的。”
For FY24, PNC expects revenue to be down 1%-2%, with net interest income declining 4% and average loan down less than 1%.
对于2024财年，PNC预计收入将下降1%-2%，净利息收益下降4%，平均贷款额下降不到1%。
For the third quarter, the bank expects average loans to be stable and net interest income to be up 1%-2%.
对于第三季度，该银行预计平均贷款保持稳定，净利息收益增长1％-2％。