BB&T reports Q1 EPS ex-items $1.05, consensus $1.03
Reports Q1 taxable-equivalent revenue $2.92B, consensus $2.93B. Reports Q1 CET1 capital ratio 10.3%. Reports Q1 net charge-offs 0.40%. "We are pleased to report strong earnings of $749M, or 97c per diluted common share, for Q1," said Chairman and CEO Kelly King. "Excluding merger-related and restructuring charges, we achieved record quarterly earnings of $813M, or $1.05 per diluted common share. Our businesses continue to perform well, with record quarterly insurance revenues, increased net interest margin, solid loan growth, strong expense control, excellent asset quality, and strong capital and liquidity," King said. "We continue to prepare for the integration of our company with SunTrust and are excited as our colleagues work together to create the premier financial institution. We know that after merging with SunTrust, we will be best positioned to help our clients achieve financial success while continuing to invest in our communities and associates and delivering enhanced value to our shareholders," King said.