Deposit Growth and Embedded Banking Opportunities - Overall average deposits reached $149.7 billion in Q4, up from $145.1 billion YoY and 1.3% higher than Q3 levels, driven by growth in both consumer and commercial deposits [1] - Growth opportunities lie within embedded banking offerings, with commercial payments-related revenues growing in the mid-single digit percentage points [1][3] - The company plans to continue investing in embedded banking capabilities, including software advisors, relationship bankers, digital and analytics tools [4] Credit Quality and Consumer Segment Performance - Credit card charge-offs were 4.5% in Q4 [2] - Non-performing assets are peaking, with non-performing loans expected to decline by midyear assuming a constructive macro environment [2] - The company grew its number of relationship households by over 3% for the second consecutive year, with 5-8% growth in Western markets and continued growth in Eastern markets [2] Loan Outlook and Lending Environment - Average loans are expected to decline 2-5% by the end of 2025, with balances flat compared to 2024 [4] - 80% of middle-market clients surveyed are confident in their growth prospects and plan to invest in property, plants, and equipment [5] Regulatory Environment and Investment Roadmap - The regulatory environment around M&A has been challenging, but there is potential for improvement and significant opportunities in the future [6] - The company has been migrating to the cloud, replacing 2 core systems annually, and will continue to invest in the business, hire talent, and pursue bolt-on acquisitions [6] Consumer Lending Strategy - Consumer lending is an important element of the balance sheet, with plans to further expand into personal lending over time [7]

KeyCorp (NYSE:KEY) Q4 2024 Earnings Call Transcript January 21, 2025 8:00 AM ET Company Participants Brian Mauney - Director of IR Chris Gorman - Chairman and CEO Clark Khayat - CFO Conference Call Participants John Pancari - Evercore ISI Ebrahim Poonawala - Bank of America Merrill Lynch Bill Carcache - Wolfe Research Manan Gosalia - Morgan Stanley Matthew O'Connor - Deutsche Bank Mike Mayo - Wells Fargo Erika Najarian - UBS Brian Foran - Truist Thomas Leddy - RBC Operator Good morning, and welcome to KeyCo ...

KeyCorp’s (KEY) fourth-quarter 2024 adjusted earnings from continuing operations of 38 cents per share beat the Zacks Consensus Estimate of 33 cents. Further, the bottom line reflected a 52% jump from the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The stock lost 4.4% in pre-market trading on deteriorating credit quality and spread income weakness concerns.Results benefited from a rise in adjusted non-interest income, higher net interest income (NII), and lowe ...

For the quarter ended December 2024, KeyCorp (KEY) reported revenue of $1.76 billion, up 15.2% over the same period last year. EPS came in at $0.38, compared to $0.25 in the year-ago quarter.The reported revenue represents a surprise of +1.73% over the Zacks Consensus Estimate of $1.73 billion. With the consensus EPS estimate being $0.33, the EPS surprise was +15.15%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

KeyCorp Fourth Quarter 2024 Earnings Review January 21, 2025 Chris Gorman Chairman and Chief Executive Officer Clark Khayat Chief Financial Officer 2024 Results 15% Increase in strategic, fee-based businesses (Investment Banking, Wealth and Commercial Payments)(1) $61Bn In Assets Under Management(2) 4% Client Deposit Growth(1) 3% Net New Relationship Household Growth (7)% Criticized Loans QoQ 74bps NPAs / Period-end Loans(2) 41bps NCOs / Average Loans 12.0% Common Equity Tier 1(3), up ~200bps YoY 9.8% Marke ...

KeyCorp (KEY) came out with quarterly earnings of $0.38 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.15%. A quarter ago, it was expected that this company would post earnings of $0.27 per share when it actually produced earnings of $0.30, delivering a surprise of 11.11%.Over the last four quarters, the company has surpa ...

KEYCORP REPORTS FOURTH QUARTER 2024 NET LOSS OF $(279) MILLION, OR $(.28) PER DILUTED COMMON SHARE, AND ADJUSTED NET INCOME OF $378 MILLION, OR $.38 PER DILUTED COMMON SHARE (a) Revenue of $865 million; Adjusted for selected items , revenue up 16% year-over-year (a) Net interest income up 10% linked quarter Momentum across investment banking, payments, and wealth management fees up 27% year-over-year Common Equity Tier 1 ratio increased 120 basis points quarter-over-quarter to 12% (b) CLEVELAND, January 21, ...

Revenue of $865 million; Adjusted for selected items(a), revenue up 16% year-over-year Net interest income up 10% linked quarter Momentum across investment banking, payments, and wealth management fees up 27% year-over-year Common Equity Tier 1 ratio increased 120 basis points quarter-over-quarter to 12%(b) CLEVELAND, Jan. 21, 2025 /PRNewswire/ -- KeyCorp (NYSE: KEY) today announced a net loss from continuing operations attributable to Key common shareholders of $(279) million, or $(.28) per diluted common ...

KeyCorp (KEY) is scheduled to announce fourth-quarter and full-year 2024 results on Jan. 21, before the opening bell. During the quarter, lending activities witnessed a solid improvement.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Per the Federal Reserve’s latest data, the demand for commercial and industrial (C&I) loans (accounting for roughly 50% of KeyCorp’s average loan balances) improved during the fourth quarter. Further, demand for consumer loans (constituting roughly 31% ...

Core Viewpoint - KeyCorp (KEY) is expected to report quarterly earnings of $0.33 per share, reflecting a 32% increase year-over-year, with revenues projected at $1.73 billion, a 13.2% increase compared to the previous year [1] Earnings Projections - Analysts have revised the consensus EPS estimate upward by 2% over the past 30 days, indicating a collective reassessment of the company's performance [1][2] Key Metrics Projections - The average balance of total earning assets is estimated at $173.23 billion, slightly up from $172.05 billion a year ago [4] - The Cash Efficiency Ratio (non-GAAP) is projected to be 68.7%, down from 88.6% in the same quarter last year [4] Asset Quality and Capital Ratios - Nonperforming assets are expected to total $733.76 million, up from $591 million a year ago [5] - The Tier 1 Risk-based Capital Ratio is projected at 12.5%, an increase from 11.7% year-over-year [5] - The Total Risk-based Capital Ratio is expected to be 14.8%, compared to 14.1% in the previous year [5] Leverage and Nonperforming Loans - The Leverage Ratio is anticipated to reach 9.4%, up from 9% in the same quarter last year [6] - Nonperforming loans at period-end are estimated at $663.97 million, compared to $574 million a year ago [6] Income Projections - Total Noninterest Income is forecasted to be $702.20 million, up from $610 million in the same quarter last year [6] - Investment banking and debt placement fees are expected to reach $194.54 million, compared to $136 million in the previous year [7] - Net interest income (FTE basis) is projected at $1.04 billion, up from $928 million a year ago [7] - Cards and payments income is estimated at $87.69 million, compared to $84 million last year [8] - Trust and investment services income is projected to be $143.26 million, up from $132 million in the same quarter last year [8] Stock Performance - KeyCorp shares have decreased by 1.8% over the past month, while the Zacks S&P 500 composite has declined by 3.3% [8]