Truist Financial Corporation (TFC) is set to unveil its fiscal 2023 fourth quarter financial results on January 18. Analysts estimate the quarter’s revenue to decrease 8.8% year-over-year to $5.71 billion. Additionally, the company's EPS is projected to decline 31.1% from the corresponding period last year, reaching $0.90.
Established in December 2019 through a "merger of equals" between BB&T and SunTrust Banks, TFC stands as the seventh largest U.S. commercial bank by assets. Initially anticipating $1.6 billion in annual cost savings by 2022, the reality has seen persistent expense increases, hindering TFC's growth prospects.
