BB&T Corp. (BBT) Tops Q3 EPS by 3c, Revenues Beat

BB&T Corp. (NYSE: BBT) reported Q3 EPS of $1.03, $0.03 better than the analyst estimate of $1.00. Revenue for the quarter came in at $2.93 billion versus the consensus estimate of $2.92 billion.

"We are pleased to report record earnings driven by strong revenues, broad-based loan growth and solid expense control," said Chairman and Chief Executive Officer Kelly S. King. "Revenue exceeded $2.9 billion as we achieved records in both net interest income and noninterest income.

"We continue to execute on numerous strategies creating more diversified and resilient profitability while investing substantially in our digital platform creating outstanding client experiences.

"Net interest income was driven by loan growth of 5.8 percent, King said. "Noninterest income was led by insurance income, which benefited from the Regions Insurance acquisition as well as organic growth.

"Asset quality remains excellent and improved further during the third quarter. Nonperforming assets and loans 90 days or more past due declined from already very low levels," King said.

"We are proud of our associates who continue to work closely with our clients and communities that have been impacted by the recent hurricanes," King said. "We are partnering with the American Red Cross, Samaritan\'s Purse and many other local charities to aid ongoing relief efforts."

For earnings history and earnings-related data on BB&T Corp. (BBT) click here.

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