CIT Group (CIT) Tops Q2 EPS by 13c

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Go back to CIT Group (CIT) Tops Q2 EPS by 13c

CIT Reports Second Quarter 2016 Net Income of $14 Million ($0.07 Per Diluted Share); Income from Continuing Operations of $181 Million ($0.90 Per Diluted Share)

July 28, 2016 6:31 AM EDT

Net Income includes After-Tax Charges of ($163) million ($0.80) Per Diluted Share Related to Discontinued Operations Increased Interest Curtailment Reserve and related contingent liabilities in Financial Freedom, the reverse mortgage servicing business that was part of the OneWest Bank acquisition in 2015; Stable Core Operating Trends Pre-tax income from continuing operations improved over $70 million from the prior quarter resulting from a lower credit provision; Non-accrual loans fell by 4%; Advanced Commercial Air Separation Filed Initial Form 10 Registration Statement for C2 Aviation Capital and progressed to second round of bidding in conjunction with our dual... More