Truist delivered 25% EPS growth to $1.09 with 250 basis points of operating leverage, as investment banking produced its highest quarterly revenue since 2021.
PositiveEPS Grows 25% YOY To $1.09 With 250bps Operating Leverage
PositiveNew Long-Term ROTCE Target Of 16% To 18% Over 3-5 Years
PositiveInvestment Banking Delivers Highest Quarterly Revenue Since 2021
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
12%
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
Sources.Tellvest earnings-call sentiment score for Truist Financial (TFC), FY2026 Q1: 6/10. Scores: Truist Financial’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: TFC daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
Corporate events
Filed after the FY2026 Q1 call day (Apr 17, 2026) through the next call day (Jul 17, 2026)From SEC 8-K filings
No 8-K events recorded for this window.
Top analysts & firms
All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Most active analysts
Analyst
Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
GAAP revenue YoY +0.38% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base5Base 5GAAP revenue YoY +0.38% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript+1Transcript +1Bank Tier 2: GAAP revenue +0.38% essentially flat, driven by bank gross/net structural mismatch. Management reported revenue up 5.1% year-over-year with strong loan growth and higher non-interest income. Managed net revenue grew at mid-single digits YoY. Band (3-7%). Gap from base 5 to base 6 = +1 band.+EPS0EPS 0No-OI bank (src/lib/no-oi-subtotal.ts): the GAAP EPS/NI-vs-rev spread (25.29 - 0.38 = +24.91 percentage points) and the vendor OI cross-check (+9.72 percentage points) are BOTH inadmissible as the operating anchor (runbook OI trust gate 3d), EPS sits below the credit provision and, here, was materially lifted by a lower effective tax rate (12.4% vs 17.9%) from project-finance client activity, which management explicitly called out as flowing through the tax provision rather than revenue. Re-anchored on PPNR, the bank operating analog. Management did not state a PPNR YoY figure but gave the components: revenue +5.1% YoY and noninterest expense +2.6% YoY (250bps positive operating leverage). Derived from the 1Q26 10-Q income statement (SEC accn 0000092230-26-000062): Q1'26 PPNR = NII 3,599 + noninterest income 1,553 - noninterest expense 2,983 = 2,169 vs Q1'25 (3,507 + 1,392 - 2,906) = 1,993 → PPNR YoY +8.83%; revenue YoY +5.16% → operating leverage (ppnr_yoy - revenue YoY) = +3.67 percentage points. Cross-checked independently from the growth rates + prior efficiency ratio (k=0.593): PPNR YoY +8.75%, spread +3.65 percentage points, agrees. +3.7 percentage points is positive but INSIDE the +5 percentage points threshold. The operating improvement is real but modest; the EPS outperformance was substantially tax-driven, not operating leverage.+Guidance0Guidance 0Revenue guidance refined to low end of prior 4-5% range. NII lowered from 3-4% to 2-3% (rate-driven). Non-interest income raised from mid-to-high to high single digits. GAAP expenses narrowed to ~1.75% from 1.25-2.25%. Buybacks raised from $4B to $5B. Tax rate lowered. Overall earnings expectations explicitly unchanged per management. Net effect is neutral, negative NII offset by positive fee/tax/buyback.=Final6
How this score was built
Base5Base 5GAAP revenue YoY +0.38% → base 5. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript+1Transcript +1Bank Tier 2: GAAP revenue +0.38% essentially flat, driven by bank gross/net structural mismatch. Management reported revenue up 5.1% year-over-year with strong loan growth and higher non-interest income. Managed net revenue grew at mid-single digits YoY. Band (3-7%). Gap from base 5 to base 6 = +1 band.+
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Truist delivered 25% EPS growth to $1.09 with 250 basis points of operating leverage, as investment banking produced its highest quarterly revenue since 2021. ROTCE improved 150 basis points year-over-year to 13.8% while the company announced a new long-term target of 16-18% over three to five years. Management refined FY2026 revenue to the low end of 4-5%, lowered NII growth to 2-3% on a no-cut rate outlook, but raised share repurchases to approximately $5 billion, leaving overall earnings expectations unchanged.
Key themes
6
positive📊 company
EPS Grows 25% YOY To $1.09 With 250bps Operating Leverage
First quarter EPS of $1.09, up 25% versus $0.87 in Q1 2025. Revenue increased 5.1% year-over-year. Year-over-year positive operating leverage of 250 basis points. ROTCE improved 150 basis points to 13.8%.
Margin
Key financials
FY2026 Q1 selectedReported GAAP figures from SEC filings
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Quarter
Revenue
Rev YoY
EPS
EPS YoY
Net margin
FY2024 Q4
$5.06B
+3.6%
—
—
25.2%
FY2025 Q1
$4.90B
+1.7%
$0.87
+7.4%
25.7%
FY2025 Q2
$4.99B
+396.0%
$0.90
+45.2%
24.9%
FY2025 Q3
$5.19B
+2.0%
$1.04
+5.1%
28.0%
FY2025 Q4
$5.25B
+3.7%
$1.00
+9.9%
25.8%
FY2026 Q1Selected
$5.15B
+5.2%
$1.09
+25.3%
28.7%
FY2026 Q2
$5.26B
+5.6%
$1.23
+36.7%
29.5%
FY2026 Q3
$3.75B
-27.8%
$0.56
-46.2%
21.3%
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“$1.09 per diluted share (Q1 2026 GAAP)”
Revenue
“Revenue increased 5.1% versus Q1 2025”
Guidance
“FY2026: revenue refined to low end of 4-5% range; NII lowered to +2-3% from +3-4%; non-interest income raised to high single digits from mid-to-high; GAAP expenses ~+1.75%; buybacks raised to ~$5B from $4B; effective tax rate lowered to ~14.5% from ~16.5%; earnings expectations unchanged”
EPS0EPS 0No-OI bank (src/lib/no-oi-subtotal.ts): the GAAP EPS/NI-vs-rev spread (25.29 - 0.38 = +24.91 percentage points) and the vendor OI cross-check (+9.72 percentage points) are BOTH inadmissible as the operating anchor (runbook OI trust gate 3d), EPS sits below the credit provision and, here, was materially lifted by a lower effective tax rate (12.4% vs 17.9%) from project-finance client activity, which management explicitly called out as flowing through the tax provision rather than revenue. Re-anchored on PPNR, the bank operating analog. Management did not state a PPNR YoY figure but gave the components: revenue +5.1% YoY and noninterest expense +2.6% YoY (250bps positive operating leverage). Derived from the 1Q26 10-Q income statement (SEC accn 0000092230-26-000062): Q1'26 PPNR = NII 3,599 + noninterest income 1,553 - noninterest expense 2,983 = 2,169 vs Q1'25 (3,507 + 1,392 - 2,906) = 1,993 → PPNR YoY +8.83%; revenue YoY +5.16% → operating leverage (ppnr_yoy - revenue YoY) = +3.67 percentage points. Cross-checked independently from the growth rates + prior efficiency ratio (k=0.593): PPNR YoY +8.75%, spread +3.65 percentage points, agrees. +3.7 percentage points is positive but INSIDE the +5 percentage points threshold. The operating improvement is real but modest; the EPS outperformance was substantially tax-driven, not operating leverage.
+
Guidance0Guidance 0Revenue guidance refined to low end of prior 4-5% range. NII lowered from 3-4% to 2-3% (rate-driven). Non-interest income raised from mid-to-high to high single digits. GAAP expenses narrowed to ~1.75% from 1.25-2.25%. Buybacks raised from $4B to $5B. Tax rate lowered. Overall earnings expectations explicitly unchanged per management. Net effect is neutral, negative NII offset by positive fee/tax/buyback.
=
Final6
positive📊 company
New Long-Term ROTCE Target Of 16% To 18% Over 3-5 Years
Established long-term ROTCE target of 16% to 18% over the next 3 to 5 years, above the 15% 2027 target. Driven by continued execution, capital return, and expected changes to capital framework under Basel III proposal.
MarginCapital Allocation
positive📊 company
Investment Banking Delivers Highest Quarterly Revenue Since 2021
Investment Banking and Trading income increased 36% year-over-year to $372 million, the highest quarterly revenue since 2021. Broad-based strength across trading, capital markets, and core banking. Full-year IB&T growth now expected high teens to 20%.
Revenue Growth
positive📊 company
Share Repurchases Accelerated To $5B Target For 2026
Repurchased $1.1 billion in Q1, targeting $1.2 billion in Q2 and approximately $5 billion for full year 2026, up from prior $4 billion target. Basel III proposal could reduce risk-weighted assets by 9-11%, supporting continued elevated buybacks into 2028 and beyond.
Capital Allocation
mixed📊 company
NII Guidance Lowered On No-Cut Rate Outlook But Earnings Unchanged
Full year 2026 NII growth now expected 2% to 3% versus prior 3% to 4%, driven by expectation that fed funds rate will remain unchanged in 2026. However, stronger noninterest income (high single-digit growth), lower tax rate (14.5% from 16.5%), and higher buybacks ($5B from $4B) offset NII pressure. Overall earnings expectations unchanged.
MarginRevenue Growth
mixed📊 company
Deposit Competition Intensifies With Yield-Seeking Behavior
Competitive deposit environment with more rotation on product and yield-seeking behavior given rates higher for longer. Net new checking growth remains positive but deposit profitability pressured. Interest-bearing deposit costs declined 14bps linked quarter to 2.09%.
what's the temperature on the degree of competition? How much are you using kind of marketing expenses, such as paying customers to move their accounts
Truist delivered 25% EPS growth to $1.09 with 250 basis points of operating leverage, as investment banking produced its highest quarterly revenue since 2021
Fifth Third closed the largest acquisition in its history on February 1, and the Comerica addition drove revenue to $2.9 billion, up 33% year-over-year, with adjusted net income of $734 million, up 38%
Huntington delivered an outstanding first quarter, with GAAP EPS of $0.25 and adjusted EPS of $0.37, up 9% year-over-year excluding acquisition-related expenses and other notable items
KeyCorp delivered Q1 2026 EPS of $0.44, up 33% year-over-year, with revenue growing 10% and ROTCE exceeding 13% as NIM expanded to 2.87% on track for the 3%+ year-end target
M&T Bank delivered GAAP EPS of $4.13 with NIM expanding 2 basis points to 3.71% as fixed-rate asset repricing continued, while fee income grew 13% year-over-year with broad-based strength and C&I growth reached $1.5 billion driven by middle market utilization pickup
Nu Holdings delivered record quarterly revenue of $5 billion and its highest-ever first-quarter net income of $871 million, up 41% year-over-year on an FX-neutral basis, as the customer base surpassed 135 million
Truist delivered 25% EPS growth to $1.09 with 250 basis points of operating leverage, as investment banking produced its highest quarterly revenue since 2021
Fifth Third closed the largest acquisition in its history on February 1, and the Comerica addition drove revenue to $2.9 billion, up 33% year-over-year, with adjusted net income of $734 million, up 38%
TFC stable · FITB stable · HBAN mixed · MTB mixed · NU improving · RF stable · USB stable
Credit
TFC stable · CFG improving · KEY stable · NU improving · PNC stable · RF improving · USB stable
Labor market
MTB mixed · NU stable
Trade & tariffs
FITB deteriorating · KEY stable
Inflation
PNC stable
Oil & energy
MTB deteriorating
Regulation Policy
CFG improving
Huntington delivered an outstanding first quarter, with GAAP EPS of $0.25 and adjusted EPS of $0.37, up 9% year-over-year excluding acquisition-related expenses and other notable items
KeyCorp delivered Q1 2026 EPS of $0.44, up 33% year-over-year, with revenue growing 10% and ROTCE exceeding 13% as NIM expanded to 2.87% on track for the 3%+ year-end target
M&T Bank delivered GAAP EPS of $4.13 with NIM expanding 2 basis points to 3.71% as fixed-rate asset repricing continued, while fee income grew 13% year-over-year with broad-based strength and C&I growth reached $1.5 billion driven by middle market utilization pickup
Nu Holdings delivered record quarterly revenue of $5 billion and its highest-ever first-quarter net income of $871 million, up 41% year-over-year on an FX-neutral basis, as the customer base surpassed 135 million