BB&T Corp. (BBT) Tops Q4 EPS by 1c, Revenues Miss

BB&T Corp. (NYSE: BBT) reported Q4 EPS of $1.05, $0.01 better than the analyst estimate of $1.04. Revenue for the quarter came in at $2.94 billion versus the consensus estimate of $2.97 billion.

"We are pleased to report record taxable-equivalent revenues of $3.0 billion and strong fourth-quarter and record full-year earnings, while we continue to make significant investments in our digital platform to enhance our clients' experiences," said Chairman and Chief Executive Officer Kelly S. King.

"Our diversified businesses continue to perform well, as evidenced by quarterly record revenues of $487 million from insurance income and $139 million from investment banking income. Our GAAP efficiency ratio increased to 60.7 percent due to higher merger-related and restructuring charges. Our adjusted efficiency ratio was 56.5 percent, which is at the lowest level since 2014. We also delivered solid loan growth for the quarter," King said.

"Asset quality remains excellent and nonperforming assets improved further during the fourth quarter," King said.

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

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