SunTrust Banks (STI) Tops Q1 EPS by 18c

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Go back to SunTrust Banks (STI) Tops Q1 EPS by 18c

SunTrust Reports First Quarter 2018 Results

April 20, 2018 6:00 AM EDT

ATLANTA, April 20, 2018 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) reported net income available to common shareholders of $612 million, or $1.29 per average common diluted share. This compares to $1.48 for the prior quarter, which included $0.39 per share of net discrete benefits from Form 8-K items announced on December 4, 2017 and the impacts of tax reform-related items, and $0.91 for the first quarter of 2017.

When excluding the impact of the aforementioned net discrete benefits in the fourth quarter of 2017, earnings per diluted share increased 18% sequentially, driven largely by a lower effective tax rate.  When... More