Lloyds Banking Group plc (LYG) Tops Q2 EPS by 3.90p; updates FY 23 Guidance

Lloyds Banking Group plc (NYSE: LYG) reported Q2 EPS of 3.90p, 0.30 better than the analyst estimate of 0.09. Revenue for the quarter came in at 7 billion pounds versus the consensus estimate of 5.87 billion.

GUIDANCE

Enhancing guidance for 2023, delivering higher, more sustainable returns: Based on our purpose-driven strategy, robust financial performance and the Group’s revised macroeconomic forecasts, we are enhancing our 2023 guidance and now expect: Banking net interest margin to be greater than 310 basis points; Operating costs to be £9.1 billion; Asset quality ratio to be 30 basis points; Return on tangible equity to be greater than 14%; Capital generation to be 175 basis points.

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