The PNC Financial Services Group, Inc. (PNC) and Citigroup Inc. (C) are scheduled to release their third-quarter results on October 13. It may not be wise to invest in PNC and C ahead of their earnings for reasons discussed throughout this article. While PNC is best avoided now, C could be a prudent watchlist addition.
For the third quarter ended September 30, 2023, PNC’s EPS and revenue are expected to decline 17.4% and 3.9% year-over-year to $3.12 and $5.33 billion, respectively. Likewise, Wall Street expects C’s EPS for the third quarter to decline 25.2% year-over-year to $1.22. However, the company’s revenue for the quarter is expected to increase 4.2% year-over-year to $19.28 billion.
