PNC Financial Services Group (NYSE:PNC) Full Year 2023 Results
Main financial results
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Revenue: USD 20.7 billion (flat in 2022).
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Net profit: USD 5.13 billion (down 10% from FY2022).
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Profit margin: 25% (down from 28% in FY22).
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EPS: USD 12.78 (down from USD 13.85 in FY2022).
All numbers shown in the chart above are for the trailing 12 month (TTM) period.
PNC Financial Services Group's EPS falls below expectations
Sales were in line with analyst forecasts. Earnings per share (EPS) was 2.4% below analyst expectations.
Looking ahead, revenues are expected to grow at an average annual rate of 4.0% over the next three years, compared to a growth forecast of 5.7% for the U.S. banking industry.
performance of American banking industry.
The company's stock fell 1.8% from the previous week.
balance sheet analysis
Just as investors need to consider its earnings, it's also important to consider the strength of a company's balance sheet.we have A graphical representation of PNC Financial Services Group's balance sheet and a detailed analysis of the company's financial condition.
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