The earnings call presents a mixed sentiment with strong full-year earnings and growth in auto originations, but challenges remain with decreased pre-provision earnings, increased charge-off rates, and higher credit loss provisions. The progress in the Discover acquisition is a positive strategic move, yet operational challenges persist.

Company Guidance

During the Capital One Q4 2024 earnings call, Andrew Young provided detailed guidance on various metrics, highlighting that Capital One earned $1.1 billion in the fourth quarter, translating to $2.67 per diluted common share, and $4.8 billion for the full year, equating to $11.59 per share. The fourth quarter's adjusted earnings per share, accounting for Discover integration costs and legal reserves, were $3.09, with a full-year adjusted EPS of $13.96. Pre-provision earnings in Q4 were $4.1 billion, a 13% decrease from the previous quarter, primarily due to increased noninterest expenses. Revenue grew by 2% linked-quarter, driven by higher noninterest income, while the provision for credit losses rose to $2.6 billion. The quarterly net interest margin stood at 7.03%, down 8 basis points from the prior quarter. The common equity Tier 1 capital ratio was 13.5%, slightly lower than the previous quarter. Total liquidity reserves decreased by $8 billion, ending at $124 billion, with a cash position of approximately $43 billion.

Strong Full-Year Earnings

Capital One earned $4.8 billion or $11.59 per share for the full year 2024. Adjusted earnings per share were $13.96.

Record Auto Originations

Auto originations were up 53% from the prior year quarter, marking four consecutive quarters of growth in 2024.

Improved Credit Performance

The 30-plus delinquency rate in the Domestic Card business showed year-over-year improvement, ending at 4.53%.

Capital Position and Stability

Common equity Tier 1 capital ratio ended the quarter at 13.5%, showcasing financial stability.

Positive Developments in Discover Acquisition

The acquisition of Discover is progressing with shareholder votes scheduled for February 18.

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Capital One Financial (COF) 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

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COF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 24, 2025	2025 (Q1)	3.67 / -	3.21	―	―	―
Jan 21, 2025	2024 (Q4)	2.83 / 3.09	2.24	37.95% (+0.85)
Oct 24, 2024	2024 (Q3)	3.77 / 4.51	4.45	1.35% (+0.06)
Jul 23, 2024	2024 (Q2)	3.41 / 3.14	3.52	-10.80% (-0.38)
Apr 25, 2024	2024 (Q1)	3.31 / 3.21	2.31	38.96% (+0.90)
Jan 25, 2024	2023 (Q4)	2.65 / 2.24	2.82	-20.57% (-0.58)
Oct 26, 2023	2023 (Q3)	3.25 / 4.45	4.2	5.95% (+0.25)
Jul 20, 2023	2023 (Q2)	3.26 / 3.52	4.96	-29.03% (-1.44)
Apr 27, 2023	2023 (Q1)	3.75 / 2.31	5.62	-58.90% (-3.31)
Jan 24, 2023	2022 (Q4)	3.88 / 2.82	5.41	-47.87% (-2.59)

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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COF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 21, 2025	$192.64	$200.33	+3.99%
Oct 24, 2024	$152.31	$160.27	+5.23%
Jul 23, 2024	$143.96	$144.86	+0.63%
Apr 25, 2024	$143.81	$144.05	+0.17%

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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