KeyCorp's Q1 earnings beat estimates with rising NII and fee income

From Zacks Investment Research: 2025-04-17 15:14:00

KeyCorp (KEY) reported first-quarter 2025 adjusted earnings of 33 cents per share, beating the Zacks Consensus Estimate by a penny and showing a 50% increase from the prior-year quarter. Total revenues rose 15.7% to $1.77 billion, NII increased 24.7% to $1.11 billion, and non-interest income was up 3.2% to $668 million. However, net loan charge-offs increased, credit quality deteriorated, and non-performing assets rose. KeyCorp’s capital ratios improved, with tangible common equity to tangible assets ratio at 7.4%. The bank currently carries a Zacks Rank #3 (Hold).

In comparison, PNC Financial Services Group, Inc. (PNC) reported first-quarter 2025 adjusted earnings per share of $3.51, beating the Zacks Consensus Estimate of $3.40. U.S. Bancorp (USB) reported first-quarter 2025 adjusted earnings per share of $1.03, beating the Zacks Consensus Estimate of 99 cents. Both banks saw increases in fee income and net interest income, but faced challenges from higher expenses and credit losses.



Read more at Zacks Investment Research: KeyCorp’s Q1 Earnings Beat Estimates, NII & Fee Income Rise Y/Y – April 17, 2025