Citizens Financial reports Q1 underlying EPS 77c, consensus 79c

Reports Q1 revenue $1.94B, consensus $1.94B. Comments from Chairman and CEO Bruce Van Saun: “We were pleased with our execution in Q1 as we delivered financial results in line with our expectations, as well as strong progress on our strategic initiatives like the Private Bank/Private Wealth buildout,” said Chairman and CEO Bruce Van Saun. “We struck an agreement to sell our purchased student loan portfolio, accelerating Non-Core rundown and freeing capital and liquidity. Our balance sheet remains robust. While the second quarter has seen heightened uncertainty given policy decisions in Washington, we believe we will be able to successfully navigate through the challenges given our strong business positioning and our financial and operating discipline.”