Truist Financial reports Q3 EPS 80c, consensus 82c

Reports Q3 revenue $5.73B, consensus $5.7B. Reports Q3 tangible book value per share $19.25. Reports Q3 CET1 capital ratio 9.9%. The company said, “The transformative work we announced in the third quarter to improve our financial performance is well underway. We are driving swift and meaningful actions to simplify our organization and reduce expenses. Our continued focus on core clients, paring back non-core and lower-return portfolios, and paying down higher-cost borrowings has made our balance sheet more efficient and helped drive a modest improvement in our net interest margin.”