SunTrust Banks (STI) Misses Q1 EPS by 6c

SunTrust Banks (NYSE: STI) reported Q1 EPS of $1.25, $0.06 worse than the analyst estimate of $1.31. Revenue for the quarter came in at $2.35 billion versus the consensus estimate of $2.33 billion.

"Our performance continues to improve and this quarter was no exception, with earnings per share increasing by 3% year-over-year (excluding merger-related costs). Loan growth remains a bright spot, with average balances up 3% sequentially and 8% year-over-year, a reflection of the ongoing investments in our business and our clients' optimistic outlook on the economy," said William H. Rogers, Jr., chairman and CEO of SunTrust Banks, Inc. "More importantly, while our results this quarter highlight SunTrust's individual strength, we know that after merging with BB&T, we will be even better positioned to enhance shareholder value, improve the client experience, and invest in our teammates, associates, and communities."

For earnings history and earnings-related data on SunTrust Banks (STI) click here.

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