The earnings call presented a mix of positive and negative aspects. While the company reported an EPS loss and faced challenges with elevated expenses and declining loans, there were significant achievements in revenue growth, client deposit growth, investment banking success, and technological advancements. The strong credit performance and capital position further indicate a positive outlook.

Company Guidance

During the Q4 2024 earnings call, KeyCorp provided substantial guidance, reflecting a positive outlook for 2025. Adjusted earnings per share (EPS) were reported at $0.38, with expectations to drive a 20% increase in net interest income (NII) for 2025, buoyed by securities repositioning and strategic investments. Fourth quarter net interest margin (NIM) reached 2.7%, with projections to approach 2.8% by year-end 2025. Commercial loan growth is anticipated at 2-4%, counterbalancing a planned $3 billion reduction in consumer loans. The company also forecasts a 5% rise in noninterest income, with promising investment banking results—fourth quarter fees were $221 million, contributing to a record $54 billion in capital raised. Additionally, KeyCorp plans a 3-5% increase in expenses, emphasizing disciplined management while enhancing technological capabilities and workforce expansion in wealth and investment banking sectors. Credit quality remains robust, with net charge-offs expected to stabilize at 40-45 basis points. The bank's CET1 ratio stands at a strong 12%, positioning it well for future growth and investments.

Positive Adjusted EPS

Despite reporting an EPS loss of $0.28 per share, after adjusting for strategic securities repositioning, EPS was a positive $0.38.

Revenue Growth

Revenue was up 11% sequentially and 16% year-over-year after adjusting for securities repositioning.

Client Deposit Growth

Client deposits grew 1.5% sequentially and 4% year-over-year.

Strong Credit Performance

Credit migration improved for the fourth consecutive quarter with criticized loans down by $500 million and net charge-offs down $40 million sequentially.

Record Assets Under Management

Assets under management reached a record of $61.4 billion.

Investment Banking Success

Fourth quarter investment banking fees were $221 million, marking the second strongest year in history.

Technological Advancements

Significant progress made in core modernization projects and cloud migration, with plans to increase tech spend by 10% in 2025.

Strong Capital Position

CET1 ratio reached 12% and marked CET1 was 9.8%, both in the top quartile of peer group.

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KeyCorp (KEY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

KEY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 19, 2018	2018 (Q2)	- / 0.44	0.34	29.41% (+0.10)	―	―
Oct 18, 2018	2018 (Q3)	- / 0.45	0.35	28.57% (+0.10)	―	―
Jan 17, 2019	2018 (Q4)	- / 0.45	0.36	25.00% (+0.09)	―	―
Apr 18, 2019	2019 (Q1)	- / 0.38	0.38	0.00% (0.00)	―	―
Jul 23, 2019	2019 (Q2)	- / 0.40	0.44	-9.09% (-0.04)	―	―
Oct 17, 2019	2019 (Q3)	- / 0.48	0.45	6.67% (+0.03)	―	―
Jan 23, 2020	2019 (Q4)	- / 0.48	0.45	6.67% (+0.03)	―	―
Apr 16, 2020	2020 (Q1)	- / 0.12	0.38	-68.42% (-0.26)	―	―
Jul 22, 2020	2020 (Q2)	- / 0.16	0.4	-60.00% (-0.24)	―	―
Oct 21, 2020	2020 (Q3)	- / 0.41	0.48	-14.58% (-0.07)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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KEY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 21, 2025	$18.30	$17.64	-3.61%
Oct 17, 2024	$17.51	$17.06	-2.57%
Jul 18, 2024	$15.84	$15.21	-3.98%
Apr 18, 2024	$13.90	$13.85	-0.36%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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