SunTrust Banks (STI) Tops Q3 EPS by 17c, Revenues Miss

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Go back to SunTrust Banks (STI) Tops Q3 EPS by 17c, Revenues Miss

SunTrust Reports Third Quarter 2018 Results

October 19, 2018 6:00 AM EDT

ATLANTA, Oct. 19, 2018 /PRNewswire/ -- SunTrust Banks, Inc. (NYSE: STI) reported net income available to common shareholders of $726 million, or $1.56 per average common diluted share.  These results include $0.14 per share of discrete tax benefits driven by the finalization of the impact of tax reform on the Company and the consolidation of SunTrust Mortgage into SunTrust Bank, which was completed in the third quarter.

Diluted earnings per share increased 5% sequentially and 47% year-over-year.  For the nine months ended September 30, 2018, earnings per share was $4.34, up 45% year-over-year.

"Our performance this quarter provides further validation of... More