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Lloyds Banking Group Plc (LYG)
NYSE:LYG
Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.07Last Year’s EPS
0.09Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 20, 2025
|% Change Since: 6.44%
|Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a robust financial performance in 2024 with strong shareholder distributions and strategic initiative achievements. However, the provision for motor finance commissions and ongoing cost pressures present challenges. The company's strategic progress and financial guidance for 2025 and beyond are positive, but uncertainties remain regarding specific legal and regulatory outcomes.Company Guidance
In the call discussing the 2024 fiscal year results, Lloyds Banking Group reported strong financial performance, aligning with their guidance. Key metrics included a 15% increase in the ordinary dividend and a £1.7 billion share buyback, despite a £700 million provision for Motor finance commissions in Q4. The Group achieved a statutory profit after tax of £4.5 billion, or £5 billion excluding the motor provision, indicating a return on tangible equity of 12.3% or 14% ex-motor. Net income for the year reached £17.1 billion, with a net interest margin of 2.95%. Operating costs were £9.4 billion, up 3% year-on-year. The Group also generated capital of 148 basis points, or 177 basis points excluding the motor provision. For 2025, Lloyds expects net interest income to grow to around £13.5 billion, with a continued focus on cost management and strategic initiatives to drive further revenue growth. Their guidance for 2026 includes maintaining a cost-income ratio below 50% and achieving a return on tangible equity greater than 15%.Strong Financial Performance in 2024
Lloyds Bank & Group delivered a robust financial performance in Q4 and 2024, with a statutory profit after tax of £4.5 billion and £5 billion excluding the Q4 motor provision. This equates to a return on tangible equity of 12.3%, or 14% ex-motor.
Significant Shareholder Distributions
The company announced a 15% increase in the ordinary dividend and a share buyback of £1.7 billion, distributing a total of up to £3.6 billion, around 9% of the market cap.
Record Mortgage Lending Growth
Mortgage book grew by £6.1 billion in 2024, or £8 billion excluding legacy book securitizations. The company achieved a 20% share of new lending, around 1 percentage point ahead of stock share.
Strategic Initiatives Exceed Expectations
The company delivered £0.8 billion of additional revenues from strategic initiatives, ahead of the £0.7 billion target, and realized £1.2 billion of gross cost savings.
Deposit Growth and Structural Hedge Benefits
Total deposits were up by over £11 billion, or 2%, to £483 billion. The structural hedge income was £4.2 billion, £0.8 billion higher than 2023, with further growth expected.
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LYG 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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LYG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jul 25, 2024 | $2.95 | $3.00 | +1.69% |
| Feb 22, 2024 | $2.02 | $2.16 | +6.93% |
| Jul 26, 2023 | $2.18 | $2.15 | -1.38% |
| Feb 22, 2023 | $2.15 | $2.19 | +1.86% |
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 Lloyds Banking Group Plc (LYG) report earnings?
Lloyds Banking Group Plc (LYG) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Lloyds Banking Group Plc (LYG) earnings time?
Lloyds Banking Group Plc (LYG) earnings time is at Feb 20, 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 LYG EPS forecast?
LYG EPS forecast for the fiscal quarter 2024 (Q4) is 0.07.
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