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
Noninterest income grew 18% Y/Y to $2.11 billion, led by higher fee income on growth across all categories.$PNC Financial Services (PNC.US)$ shares are trading higher after it reported second-quarter FY24 results.
$PNC金融服務集團 (PNC.US)$在它發佈2024財年第二季度業績後該公司股票價格上漲。
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.
該銀行報告稱營業收入同比增長2%至541.1億美元，略低於預估的541.2億美元。營業收入同比增長，主要得益於非利息收入的增長。
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.
淨利息收益下降6%至33億美元，淨利息收益率由去年同期的2.79%降至2.60%，原因是增加了資金成本和貸款餘額減少。
Noninterest income grew 18% Y/Y to $2.11 billion, led by higher fee income on growth across all categories.
非利息收入同比增長18%至21.1億美元，主要得益於所有類別的費用收入增長。
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.
平均貸款同比下降1％，平均存款同比下降2％。調整後的每股收益爲3.30美元，超過預估的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.
該公司今年季度的信貸損失準備金爲2.35億美元（去年同期爲1.46億美元），反映出投資組合的活動。普通股一級資本充足率較去年同期的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參加了維薩交易計劃，使其能夠將50％的維薩B-1類股份貨幣化，並將其餘部分轉換爲180萬股維薩B-2類股份，帶來了7,540萬美元的收益。
On July 2, PNC's board of directors increased a quarterly cash dividend per share to $1.60 (from $1.55), payable on August 5, 2024, to shareholders of record as of July 15, 2024.
2024財年7月2日，$董事會$決定將每股股息從$1.55$美元增加到$1.60$美元，將於2024年8月5日支付給截至2024年7月15日持有該公司股票的股東。
PNC returned $0.7 billion of capital to shareholders, comprising share repurchases over $0.1 billion in the quarter.
PNC向股東返還了7億美元的資本，其中包括季度內超過1億美元的股票回購。
Bill Demchak, Chairman and CEO, said, "PNC delivered strong results in the second quarter; generating positive operating leverage through revenue growth and well controlled expenses while adding customers, and strengthening our capital levels. Importantly, net interest income and net interest margin increased, marking the beginning of our growth trajectory towards expected record NII in 2025."
董事長兼首席執行官Bill Demchak表示：“PNC在第二季度取得了強勁的業績;通過收入增長和良好的控制費用來實現正的運營槓桿，同時增加客戶並加強資本水平。重要的是，淨利息收益和淨利息收益率都增加了，標誌着我們的增長軌跡邁向2025年的預計紀錄淨利息收益。”
"In June, the Federal Reserve announced the results of the annual stress test and PNC's start-to-trough CET1 ratio depletion was 1.6%, the best in our peer group."
“6月，聯儲局公佈了年度壓力測試結果，而PNC從開始到低谷的CET1比率下降了1.6％，是我們同行業中最好的。”
For FY24, PNC expects revenue to be down 1%-2%, with net interest income declining 4% and average loan down less than 1%.
在2024財年，$pnc金融服務集團$預計營業收入將下降1%-2%，淨利息收入將下降4%，平均貸款額下降不到1%。
For the third quarter, the bank expects average loans to be stable and net interest income to be up 1%-2%.
對於第三季度，該銀行預計平均貸款保持穩定，淨利息收益增長1％-2％。
