PITTSBURGH, Feb. 7, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) announced today that Executive Vice President and Chief Financial Officer Robert Q. Reilly will discuss business performance and  strategy at 8:50 a.m. (ET) Wednesday, Feb 21, at the Bank of America Financial Services Conference in Miami, FL. The following will be accessible at www.pnc.com/investorevents: a link to the live webcast; related materials, including cautionary statements regarding forward-looking informat ...

The PNC Financial Services Group, Inc. (PNC) reported fourth-quarter 2023 earnings per share of $3.16, which surpassed the Zacks Consensus Estimate of $2.99. The outperformance was aided by lower provision for credit losses and adjusted non-interest expenses compared with the year-ago quarter's level.Lower Provision for Credit Losses & Expenses Fuel OutperformanceNon-interest expenses totaled $4.1 billion in the fourth quarter of 2023. This included the impact of FDIC special assessment and workforce reduct ...

PNC Financial Services Group saw delinquencies, total non-performing loans (NPLs) and net loan charge-offs increase during the fourth quarter.One notable contributor to the increase was the commercial real estate (CRE) portfolio, Robert Q. Reilly, executive vice president and chief financial officer at PNC, said Tuesday (Jan. 16) during the bank’s quarterly earnings call.Of the $79 million rise in total net loan charge-offs reported by PNC, $56 million was from CRE customers, Reilly said.Overall, compared t ...

The PNC Financial Services Group, Inc. (NYSE:PNC) Q4 2023 Results Conference Call January 16, 2024 11:00 AM ET Company Participants Bryan Gill - Director of Investor Relations Bill Demchak - Chairman, President and CEO Rob Reilly - Executive Vice President and CFO Conference Call Participants John McDonald - Autonomous Research John Pancari - Evercore Scott Siefers - Piper Sandler Manan Gosalia - Morgan Stanley Gerard Cassidy - RBC Bill Carcache - Wolfe Research Erika Najarian - UBS Ken Usdin - Jefferies Mi ...

Key TakeawaysPNC Financial Services Group Inc.'s profit was hurt by a charge from regulators and layoff expenses.The company's net interest income and net interest margin declined for the fourth quarter.PNC also provided guidance that revenue would decline 3% to 4% in the current quarter. Shares of PNC Financial Services Group Inc. (PNC) fell early Tuesday but later recovered as the bank’s earnings slumped on a regulatory charge and costs for layoffs. PNC reported fourth-quarter 2023 net income tumbled 43% ...

The PNC Financial Services Group, Inc.’s (PNC) fourth-quarter 2023 adjusted earnings per share of $3.16 surpassed the Zacks Consensus Estimate of $2.99. However, the bottom line reflects an 8.9% decline year over year.Results were aided by a rise in loan balances and an improvement in the company’s credit quality. However, an increase in non-interest expenses and lower net interest income (NII) were headwinds.Net income was $883 million, plunging 43% from the prior-year quarter.For 2023, adjusted earnings o ...

The PNC Financial Services Group, Inc (PNC) reported $5.36 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 7%. EPS of $3.16 for the same period compares to $3.49 a year ago.The reported revenue represents a surprise of +1.58% over the Zacks Consensus Estimate of $5.28 billion. With the consensus EPS estimate being $2.99, the EPS surprise was +5.69%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they ...

The PNC Financial Services Group, Inc (PNC) came out with quarterly earnings of $3.16 per share, beating the Zacks Consensus Estimate of $2.99 per share. This compares to earnings of $3.49 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.69%. A quarter ago, it was expected that this company would post earnings of $3.18 per share when it actually produced earnings of $3.60, delivering a surprise of 13.21%.Over the last four qu ...

Fourth quarter 2023 net income was $0.9 billion, $1.85 diluted EPS or $3.16 as adjusted Grew revenue; increased average loans and deposits PITTSBURGH, Jan. 16, 2024 /PRNewswire/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) today reported: For the quarter For the year In millions, except per share data and as noted 4Q23 3Q23 2023 2022 Fourth Quarter Highlights Financial Results Comparisons reflect 4Q23 vs. 3Q23 Revenue $    5,361 $    5,233 $  21,490 $ 21 ...

Wall Street analysts expect The PNC Financial Services Group, Inc (PNC) to post quarterly earnings of $3 per share in its upcoming report, which indicates a year-over-year decline of 14%. Revenues are expected to be $5.28 billion, down 8.5% from the year-ago quarter.The consensus EPS estimate for the quarter has undergone an upward revision of 1.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this ...