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Keycorp (KEY)
NYSE:KEY
Earnings Data
Report Date
Apr 17, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.32Last Year’s EPS
0.22Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 17, 2025
|% Change Since: -1.99%
|Next Earnings Date:Jul 22, 2025
Earnings Call Sentiment|Positive
KeyCorp reported strong first-quarter results with significant revenue and net interest income growth, a robust capital position, and record investment banking fees. However, market uncertainty and potential economic weakness pose challenges, as evidenced by reserve adjustments and elevated commercial real estate charge-offs.Company Guidance
During KeyCorp's First Quarter 2025 Earnings Conference Call, the company provided guidance emphasizing its strong financial position despite macroeconomic uncertainties. KeyCorp reported a 16% year-over-year increase in revenue while maintaining stable expenses, resulting in a significant $90 million increase in pre-provision net revenue compared to the fourth quarter. The company highlighted a decline in non-performing assets (NPAs) by nearly 10% sequentially and a provision for credit losses of $118 million, which included $110 million in net charge-offs and an $8 million reserve build. KeyCorp's CET1 ratio stood at 11.8%, with liquidity comprising over 30% in cash and cash equivalents. The bank maintained its 2025 guidance, anticipating 20% net interest income growth, supported by strong loan and deposit performance and strategic actions taken in 2024. Additionally, KeyCorp announced a $1 billion share repurchase authorization, expected to commence in the second half of the year, contingent on market conditions and economic clarity.Significant Revenue Growth
Revenues were up 16% year-over-year, exceeding expectations, with a strong pre-provision net revenue increase of over $90 million from the previous quarter.
Strong Capital Position
KeyCorp ended the quarter with a CET1 ratio of 11.8% and a marked CET1 ratio of approximately 10%, both at the high end of their peer group, indicating a robust capital position.
Record Investment Banking Fees
For the second consecutive year, first-quarter investment banking fees were a record, with syndication and debt capital markets activity driving the growth.
Net Interest Income Growth
Tax-equivalent net interest income was $1.1 billion, up 4% sequentially and 25% year-over-year, driven by strategic actions taken in the previous year.
Improved Asset Quality
Nonperforming assets declined by nearly 10% sequentially, and overall credit migration improved for a fifth consecutive quarter.
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KEY Earnings History
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 |
|---|---|---|---|
| Apr 17, 2025 | $14.07 | $14.27 | +1.42% |
| Jan 21, 2025 | $18.08 | $17.43 | -3.60% |
| Oct 17, 2024 | $17.30 | $16.86 | -2.54% |
| Jul 18, 2024 | $15.65 | $15.02 | -4.03% |
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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FAQ
When does Keycorp (KEY) report earnings?
Keycorp (KEY) is schdueled to report earning on Apr 17, 2025, TBA Not Confirmed.
What is Keycorp (KEY) earnings time?
Keycorp (KEY) earnings time is at Apr 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is KEY EPS forecast?
KEY EPS forecast for the fiscal quarter 2025 (Q1) is 0.32.
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