KeyCorp reports Q4 adjusted EPS 41c, consensus 38c

Reports Q4 revenue $2.01B, consensus $1.97B. Reports Q4 CET1 capital ratio 11.7%. Reports Q4 tangible book value per share $13.77. The company said, “Our strong fourth quarter and full-year results demonstrate the consistent and significant progress we are making on our path to achieving sustainable mid-to-high teens returns on tangible common equity. Fourth quarter revenue exceeded $2 billion, and full year revenue was a record, up 16% year-over-year. Full year results met or exceeded each of the financial targets we communicated at the beginning of the year. During the year, we generated approximately 1,200 basis points of adjusted operating leverage and 280 basis points of adjusted fee-based operating leverage(b). Tangible book value per share grew 3% sequentially and 18% year-over-year.”