Truist Financial $TFC reported second-quarter earnings of $1.23 per diluted share on Friday, up 37% from a year ago, beating analyst expectations of $1.08 per share, according to Barron's.
The Charlotte-based bank earned $1.23 per diluted share in the second quarter, topping Wall Street's forecast of $1.08
Bloomberg / Getty Images
Truist Financial $TFC reported second-quarter earnings of $1.23 per diluted share on Friday, up 37% from a year ago, beating analyst expectations of $1.08 per share, according to Barron's.
Net income available to common shareholders was $1.5 billion for the quarter. Total revenue on a tax-equivalent basis reached $5.31 billion, a 5.5% increase from the prior year, with gains in investment banking, trading, and wealth management driving the improvement, the company said.
Noninterest income climbed 17% from the second quarter of 2025 to $1.64 billion, while tax-equivalent net interest income grew to $3.67 billion, up 0.9% from a year earlier. Net interest margin on a tax-equivalent basis was 2.98%, down four basis points year over year.
Noninterest expense totaled $3.06 billion, up 2.3% from a year ago, reflecting higher personnel costs, partly offset by lower professional fees and outside processing expense, the company said.
The provision for credit losses fell to $395 million from $488 million in the second quarter of 2025. The net charge-off ratio was 0.50%, roughly in line with 0.51% a year earlier.
Truist returned $1.8 billion to shareholders through dividends and common share repurchases during the quarter. The company repurchased $1.2 billion of common stock and declared a dividend of $0.52 per share. Its common equity tier 1 capital ratio stood at 10.9%.
Truist projected full-year revenue growth of 3.5% to 4% and noninterest expense growth of 1.75%, while also targeting approximately $5 billion in share buybacks, according to Barron's.
"We delivered strong second-quarter results, with earnings per share increasing 37% year over year, driven by disciplined execution against our strategic priorities, higher fee income, strong credit performance, and the return of capital to shareholders," Truist Chairman and CEO Bill Rogers said in a statement.
The results arrive as Truist prepares for a leadership transition. The company announced in June that Michael Lyons — who previously led Fiserv and held senior roles at PNC — would take over from Bill Rogers in the top job beginning Sept. 1. Truist stock was up about 1.4% ahead of Friday's open.
Join 500,000+ readers who start their day with Quartz.
By subscribing, you agree to our Terms of Service and Privacy Policy.