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Mar 31, 2024
Fifth Third Q1 2024 Earnings Report
Diluted earnings per share of $0.70 reported.
Key Takeaways
Fifth Third Bancorp reported a net income of $520 million for Q1 2024, compared to $530 million in the previous quarter and $558 million in the year-ago quarter. Net income available to common shareholders was $480 million, or $0.70 per diluted share.
Average deposits increased 5% compared to 1Q23.
Net charge-offs, NPAs, and delinquencies remain below historical levels; zero CRE net charge-offs during the quarter.
Strong fee performance driven by 10% growth in wealth and asset management revenue and 11% in treasury management fees compared to 1Q23.
Disciplined expense management; expenses increased 1%; adjusted expenses decreased 1% compared to 1Q23.
Revenue by Segment
Forward Guidance
Fifth Third remains well positioned to respond to a range of potential outcomes. The company will continue to follow its guiding principles of stability, profitability, and growth.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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