KeyCorp (KEY) Reports Q3 Loss of $0.50
KEY Hot Sheet
EPS Growth %: 0.0%Financial Fact:
NET INCOME (LOSS): 200M
Today's EPS Names:
TNP, MENT, More
KeyCorp (NYSE: KEY) reports a Q3 loss of $0.50, above the consensus of a $0.41 loss and a loss of $0.02 last year.
KeyCorp said loan loss reserve increased to $2.5 billion, or 4.00% of total loans. Capital and liquidity positions remain strong with Tier 1 common equity ratio of 7.63%.
CEO Henry L. Meyer III stated, "While our results continue to be impacted by the difficult operating environment, we believe the aggressive actions we've taken to address credit quality, strengthen capital and liquidity, and reshape our business mix position us to meet the challenges posed by the current environment and to emerge as a more competitive company when the economy rebounds. Further, we are encouraged by the continuation of deposit growth and the improvement in our net interest margin."
KeyCorp said loan loss reserve increased to $2.5 billion, or 4.00% of total loans. Capital and liquidity positions remain strong with Tier 1 common equity ratio of 7.63%.
CEO Henry L. Meyer III stated, "While our results continue to be impacted by the difficult operating environment, we believe the aggressive actions we've taken to address credit quality, strengthen capital and liquidity, and reshape our business mix position us to meet the challenges posed by the current environment and to emerge as a more competitive company when the economy rebounds. Further, we are encouraged by the continuation of deposit growth and the improvement in our net interest margin."
You May Also Be Interested In
- UPDATE: NetApp, Inc. (NTAP) Tops Q4 EPS by 3c; Guides Q1 Lower
- AFC Enterprises, Inc. (AFCE) Tops Q1 EPS by 4c; Raises FY12 Comps Outlook
- Infoblox (BLOX) Tops Q3 EPS by 4c; Guides Q4
Create E-mail Alert Related Categories
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
