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Jun 30, 2022
Truist Q2 2022 Earnings Report
Reported strong second-quarter performance with solid loan growth and expanded net interest margin, driven by higher rates and a robust deposit franchise. Fee revenues saw record insurance and card-related fees, balanced by market volatility. Capital, liquidity, and credit quality remained strong.
Key Takeaways
Truist Financial Corporation reported a net income available to common shareholders of $1.5 billion for the second quarter of 2022, a decrease of 6.7% compared to the same period last year. Adjusted net income was $1.6 billion, or $1.20 per diluted share. The results reflect strong loan growth and expanded net interest margin.
Earnings per diluted common share were $1.09; adjusted diluted earnings per share were $1.20.
PPNR for the second quarter of 2022 was $2.1 billion, up 25% compared to first quarter 2022.
Taxable-equivalent revenue for the second quarter of 2022 was $5.7 billion, up 6.2% compared to first quarter 2022.
Broad-based loan growth; end of period loans held for investment grew 4.7% compared to the first quarter of 2022.
Forward Guidance
Truist remains committed to delivering positive operating leverage on both a GAAP and adjusted basis for full-year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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