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Dec 31, 2022
Huntington Q4 2022 Earnings Report
Reported record full-year net income and achievement of medium-term financial targets.
Key Takeaways
Huntington Bancshares Incorporated reported a net income of $645 million for Q4 2022, with an EPS of $0.42. The quarter was marked by a 4% increase in net interest income and a $1 billion share repurchase authorization.
Earnings per common share (EPS) for the quarter were $0.42, an increase of $0.03 from the prior quarter.
Net interest income increased $58 million, or 4%, from the prior quarter, reflecting net interest margin expansion of 10 basis points to 3.52% and higher average total loans and leases.
Pre-Provision Net Revenue (PPNR) increased $36 million, or 4%, from the prior quarter to $893 million.
Board of Directors approved a $1 billion share repurchase authorization for the next eight quarters.
Forward Guidance
Huntington enters 2023 from a position of strength, well-positioned to navigate various economic scenarios with solid capital levels and a top-tier reserve profile.
Positive Outlook
- Growing capital base
- Robust profitability profile
- Share repurchase program announcement
- Solid capital levels
- Top tier reserve profile
Challenges Ahead
- Uncertain economic outlook
- Potential impact of economic scenarios
- Risk associated with economic downturns
- Uncertainties in the economic landscape
- External factors influencing the business environment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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