Recent Earnings

Fifth Third Q3 Earnings Off; Yield, Margins Down

Fifth Third reported Q3/14 net income of $328 million was down from $421 million a year earlier. The bank noted its Q3 Y/Y net interest margin and average interest-earning asset yield were down 21 BPs and 19 BPs, respectively. read more

PNC Reports Flat Earnings, Notes Drop in Net Interest Margin

PNC Financial reported Q3/14 earnings were essentially flat as revenue of $3.84 billion was down from $3.92 billion a year earlier. The bank noted that its Q3/14 net interest margin was 2.98% compared to 3.47% in Q3/13. read more

MicroFinancial Reports Higher Q3 Earnings; Volume Up 26%

MicroFinancial reported Q3/14 net income was $2.9 million, up from $2.6 million a year earlier. Orginations increased by 25.8% to $29.7 million, up from $23.6 million in Q3/13. read more

KeyCorp Q3 Earnings Hurt by Drop in Operating Lease Income

KeyCorp reported Q3/14 net income of $197 million, down 14% from $229 million a year earlier. The bank noted operating lease income was down $27 million as the prior year included the benefit of an early termination of a leveraged lease. read more

Bank of America Reports Q3 Loss on Legal Charge

Bank of America reported a Q3/14 net loss of $70 million after deducting dividends on preferred shares. The results included a pretax charge of $5.3 billion for the mortgage-securities settlement. read more

JPM Chase Swings to Q3 Profit on Lower Legal Costs

JPMorgan Chase reported Q3/14 net income of $5.6 billion compared to a net loss of $0.4 billion a year earlier. The firm noted it recorded a legal expense of $1.1 billion in Q3/14 compared to a $9.3 billion charge in the prior year. read more

Wells Fargo Q3 Y/Y Net Interest Margin Off 33 BPS

Wells Fargo reported Q3/14 net income of $5.7 billion was up from $5.6 billion in Q3/13. The bank noted that its Q3/14 net interest margin of 3.06% was down from 3.15% sequentially and 3.39% in Q3/13. read more

DLL H1 Profit Up 8.2%; Portfolio Grows to $42.5B

De Lage Landen reported H1/14 net profit of $308 million was up 8.2% compared to H1/13. DLL also noted growth in its leasing portfolio, which was up 4.5% to $42.8 billion. read more

HP Financial Q3 Financing Volume Up 14%

HP reported its financial services revenue was down 3% year/year with a 1% increase in net portfolio assets and a 14% increase in financing volume. read more

Deere Posts Lower Q3 Earnings, Finance Unit Profits Higher

Deere & Company reported lower Q3/14 profits on a slowdown in farm machinery sales. Deere noted that its John Deere Capital unit profits were higher primarily as a result of growth in the credit portfolio. read more

Element Financial Q2 Organic Volume Up 23%

Element Financial reported Q2/14 organic originations of $793 million, which were up 23% from $642 million sequentially, contributed to a 7.9% increase in the company’s earning assets to $4.1 billion. read more

AerCap Q2 Earnings Up 217% on ILFC Consolidation

AerCap Holdings said its adjusted Q2/14 net income was $212.4 million, up 217% from $67.1 million a year earlier. Lease revenue of $763.3 million was up from $229.8 million or 232% compared to Q2/13. read more

AeroCentury Reports Q2 Loss on Impairment Charge

AeroCentury reported a net loss of $3.9 million for Q2/14 compared to net income of $1.3 million for Q2/13. The company noted that it took an impairment charge of $6.8 million for five of its Fokker 100 aircraft. read more

Electro Rent Fiscal Q4, FY Earnings Down Year/Year

Electro Rent reported fiscal Q4/14 and full fiscal year net income of $4.6 million and $20.4 million, respectively was down from $6.4 million and $22.8 million for the same fiscal 2013 periods. read more

Ritchie Bros. Reports 30% Increase in Q2 Earnings

Ritchie Bros. Auctioneers announced Q2/14 net earnings of $38.6 million were up 30% from $29.8 million for the same quarter a year earlier. Ritchie noted Q2 revenues increased 11% to $141.8 million. read more

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