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Dec 31, 2024
KeyCorp Q4 2024 Earnings Report
KeyCorp reported a net loss of $(279) million, or $(.28) per diluted common share, and adjusted net income of $378 million, or $.38 per diluted common share for Q4 2024.
Key Takeaways
KeyCorp reported a net loss of $(279) million for Q4 2024, but adjusted net income was $378 million. Revenue was $865 million, with adjusted revenue up 16% year-over-year. Net interest income increased by 10% linked quarter, and there was momentum across investment banking, payments, and wealth management fees, up 27% year-over-year.
Net loss of $(279) million, or $(.28) per diluted common share; adjusted net income of $378 million, or $.38 per diluted common share.
Revenue of $865 million; adjusted revenue up 16% year-over-year.
Net interest income up 10% linked quarter.
Common Equity Tier 1 ratio increased 120 basis points quarter-over-quarter to 12%.
KeyCorp
KeyCorp
KeyCorp Revenue by Segment
Revenue by Segment
Consumer Bank Revenue
CapyFin.comCommercial Bank Revenue
CapyFin.com Forward Guidance
KeyCorp is well positioned for sound, profitable growth in 2025 and beyond.
Positive Outlook
- Strong finish to the year with EPS and revenue impacted by securities portfolio repositioning.
- Adjusted revenues were up 16% year-over-year and 11% sequentially.
- Net interest income was up 10% quarter-over-quarter and fees (as adjusted) were up meaningfully versus comparable periods.
- Positive operating leverage for a second consecutive quarter.
- Net charge-offs were down 26% and criticized loans down 7% on a linked quarter basis.