KeyCorp reports Q3 adjusted EPS 41c, consensus 38c

Reports Q3 revenue $1.9B, consensus $1.88B. Reports Q3 book value per share $15.86. Reports Q3 CET1 capital ratio 11.8%. The company said, “Our third quarter results demonstrate continued strong momentum. Adjusted revenue was up 17% year-over-year, and we generated more than 1,000 basis points of operating leverage again this quarter. Revenue growth was driven by our clearly defined net interest income tailwinds and adjusted noninterest income growth of 8%, which continues to grow faster than expenses. At the same time, we continue to make meaningful investments in front line bankers and technology that will drive future growth. Tangible book value per share grew 4% sequentially and 14% year-over-year.”