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Wells Fargo (WFC)
NYSE:WFC
Earnings Data
Report Date
Apr 11, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.24Last Year’s EPS
1.2Same Quarter Last Year
Moderate Buy
Based on 19 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 15, 2025
|% Change Since: 1.34%
|Next Earnings Date:Apr 11, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a strong financial performance with significant capital returns and growth in strategic areas, offset by challenges in specific segments like home lending, auto, and commercial real estate. The company has successfully lowered expenses and improved efficiency, contributing to overall positive financial results.Company Guidance
During the fourth quarter 2024 earnings call, Wells Fargo provided comprehensive guidance for 2025, highlighting several key metrics. The guidance anticipates a 1% to 3% increase in net interest income (NII) compared to 2024, with expectations of modest loan growth across commercial and consumer segments, particularly in the Corporate Investment Bank and credit card portfolios. The company plans to maintain noninterest expenses around $54.2 billion, despite $2.4 billion in expected efficiency savings, by increasing investments in technology and other strategic areas. Additionally, Wells Fargo aims to enhance its return on tangible common equity (ROTCE), which reached 13.4% in 2024, with a medium-term goal of achieving a sustainable 15%, driven by improved profitability in credit card and home lending businesses, as well as growth in wealth and investment management. The call emphasized a disciplined approach to managing expenses, credit quality, and investments, while also acknowledging the impact of macroeconomic factors such as interest rates and market conditions on their financial outlook.Strong Financial Performance
Net income for the fourth quarter was $5.1 billion, or $1.43 per diluted common share, with a solid underlying business performance and growth in fee income across most categories.
Capital Return and Dividend Increase
Wells Fargo returned $25 billion of capital to shareholders and increased the common stock dividend per share by 15%. The company repurchased approximately $20 billion of common stock, up 64% from a year ago.
Progress in Credit Card Business
Over 2.4 million new credit card accounts were opened in 2024, with strong credit card spend up over $17 billion from a year ago.
Improved Efficiency and Lower Expenses
Noninterest expense declined 12% from a year ago, driven by lower FDIC expenses and efficiency initiatives resulting in headcount reductions every quarter since Q3 2020.
Investment in Strategic Growth Areas
Wells Fargo made significant investments in areas like technology, digital platforms, and customer growth initiatives, including hiring more bankers and financial advisers.
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WFC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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WFC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 15, 2025 | $70.84 | $75.58 | +6.69% |
| Oct 11, 2024 | $57.14 | $60.34 | +5.60% |
| Jul 12, 2024 | $59.07 | $55.52 | -6.01% |
| Apr 12, 2024 | $55.34 | $55.13 | -0.38% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Wells Fargo (WFC) report earnings?
Wells Fargo (WFC) is schdueled to report earning on Apr 11, 2025, TBA Not Confirmed.
What is Wells Fargo (WFC) earnings time?
Wells Fargo (WFC) earnings time is at Apr 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is WFC EPS forecast?
WFC EPS forecast for the fiscal quarter 2025 (Q1) is 1.24.
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