PNC Financial says Q2 guidance ‘fine’

Asked at the Morgan Stanley US Financials Conference if volatility at the start of the quarter resulted in any changes to guidance, executives from PNC Financial (PNC) replied, according to a transcript of the event: “So there was volatility in markets. There actually wasn’t volatility in activity. The hard data remained strong, the soft data scares everybody. But what we see inside of our book in terms of credit client activity, all remains pretty solid. Consumer spending looks solid. Don’t have any change in our guidance at the margin. You’ll see NII a little stronger on the back of little better loan growth. And at the margin, you’ll see fees a little softer on the back of lower outcomes in our private equity book. But guidance is fine.”