Edition:
United Kingdom

Suntrust Banks Reports Q2 Earnings Per Share Of $1.48


Thursday, 18 Jul 2019 

July 18 (Reuters) - Suntrust Banks Inc ::SUNTRUST REPORTS SECOND QUARTER 2019 RESULTS.Q2 REVENUE $2.6 BILLION VERSUS REFINITIV IBES ESTIMATE OF $2.4 BILLION.Q2 EARNINGS PER SHARE $1.48.NET INTEREST INCOME WAS $1.6 BILLION FOR Q2 OF 2019.Q2 EARNINGS PER SHARE VIEW $1.45 -- REFINITIV IBES DATA.QTRLY EARNINGS PER SHARE $1.48.NET CHARGE-OFFS TOTALED $85 MILLION DURING CURRENT QUARTER.NET INTEREST MARGIN WAS 3.16% IN CURRENT QUARTER, REFLECTING AN 11 AND 12 BASIS POINT DECLINE SEQUENTIALLY AND YEAR-OVER-YEAR.QUARTER-END BOOK VALUE PER COMMON SHARE WAS $53.47 AND TANGIBLE BOOK VALUE PER COMMON SHARE WAS $39.54.QTRLY PROVISION FOR CREDIT LOSSES WAS $127 MILLION.PLANNED MERGER WITH BB&T PROGRESSING WELL.HIGHER FUNDING COSTS AND DECLINING INTEREST RATES NEGATIVELY IMPACT NIM IN QUARTER.SAYS INTEREST RATE ENVIRONMENT CERTAINLY BECAME MORE CHALLENGING IN Q2, WHICH OFFSET SOME OF OUR CORE BUSINESS PROGRESS.