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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%.
Revenue by Segment
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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