Recent Earnings

Volvo Financial Q2/14 New Financing Volume Up 18.8%

Volvo reported that its Volvo Financial Services unit’s new financing volume in Q2/14 was $2.03 billion, up from $1.71 billion or about 18.8% compared to the same period a year ago. read more

GE Capital Profit Off 5%, CLL Earnings Drop 34%

GE announced that its GE Capital Q2/14 segment profit of $1.70 billion was down 5% from $1.79 billion a year earlier. Commercial Lending and Leasing segment earnings of $541 million, was down 34% from $825 million in Q2/13. read more

Huntington Reports 9% Increase in Q2 Earnings

Huntington Bancshares reported Q2/14 net income of $165 million, up 9% from $151 million a year earlier. The bank noted average loan growth was $3.7 billion or 9% year/year. read more

KeyCorp Q2 Earnings Up 25%; Lease Financing Yield Drops

KeyCorp said Q2/14 net income of $242 million was up 25.4% from $193 million in Q2/13. The bank noted the yield on lease financing average balances in Q2 was 3.54%, down from 3.96% a year earlier. read more

MicroFinancial Q2 NBV Up 16%, Dealer/Broker Counts Up 42%

MicroFinancial reported Q2/14 contract originations increased 16.3% to $27.8 million. The company said it approved over 410 new dealers and brokers for the quarter, which represents an increase of 41.9%. read more

PNC Financial Q2 EPS Beats the Street

PNC Financial Services reported Q2/14 net income of $1.1 billion, or $1.85 per diluted share, compared with net income of $1.1 billion in Q2/13. Analysts polled by Thomson Financial expected Q2 EPS of $1.78. read more

BofA Q2 Earnings Off 43% on Litigation Costs

Bank of America reported Q2/14 net income of $2.3 billion was down 43% from net income of $4.0 billion in the year-ago period. The bank said Q2 results included litigation costs of $4.0 billion read more

JPMorgan Beats Estimates Despite Earnings Drop

JPMorgan Chase reported Q2/14 net income of $6.0 billion, down from $6.5 billion or 8% compared the same quarter of 2013. Earnings per share were $1.46, compared to analysts’ expectations of $1.29. read more

Citigroup Q2 Earnings Impacted by $3.7B RMBS Charge

Citigroup reported Q2/14 net income of $181 million compared to net income of $4.2 billion a year earlier. Citi noted the Q2 results included the impact of a $3.7 billion after-tax charge to settle RMBS and CDO-related claims. read more

Wells Fargo Q2 Performance Benefits from Lower Losses

Wells Fargo reported Q2/14 net income of $5.7 billion was up from $5.5 billion in Q2/13. The bank noted a Q2/14 provision for credit losses of $217, which was down $435 million from $652 million reported in Q2/13. read more

HP Financial Q2 Financing Volume Up 12%

HP reported its HP Financial Services unit fiscal Q2 financing volume was up 12% year-over-year. HP CEO Meg Whitman noted the company is planning to eliminate up to 16,000 employees on top of the 34,000 already announced. read more

Sterling EF Reports $107MM in Q1 Gross Funding

The Equipment Finance Division of Sterling National Bank reported it finished Q1/14 with $107 million in gross funding, the largest quarterly funded amount in the history of the division. read more

Element Tops $1 Billion in Q1 Originations

Element Financial reported Q1/14 originations of $1.1 billion contributing to a 27% increase in the company’s total earning assets to $3.8 billion versus $3.0 billion at year-end 2013. read more

FLY Leasing Q1 Drops on Lower Lease-End Revenues

Commercial aircraft lessor FLY Leasing said Q1/14 net income was $3.6 million, down from $32.8 million a year earlier. The company said Q1/13 results benefitted from much higher end-of-lease income. read more

NewStar Q1 Funded Volume Up 90% on M&A Activity

NewStar Financial reported that Q1/14 new funded loan volume was $275 million, up 90% from $145 million in the first quarter of 2013. The company said the increase was driven by increasing middle market M&A activity. read more

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