Have you been eager to see how BB&T Corporation (BBT – Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this North Carolina-based diversified financial holding company’s earnings release this morning:
An Earnings Beat
BB&T came out with adjusted earnings per share of 97 cents, which beat the Zacks Consensus Estimate of 92 cents.
Rise in revenues was partly offset by higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BB&T depicted an optimistic stance prior to the earnings release. The Zacks Consensus Estimate has revised 1.1% upward over the last 30 days.
Notably, BB&T has an impressive earnings surprise history. Before posting the earnings beat in Q1, the company delivered positive surprises in three of the prior four quarters.
BB&T Corporation Price and EPS Surprise
Overall, on an average the company posted positive earnings surprise of 1.3% in the trailing four quarters.
Revenues Beat Expectation
BB&T posted total revenues (taxable-equivalent) of $2.84 billion, outpacing the Zacks Consensus Estimate of $2.83 billion.
Key Statistics to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BB&T. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.