Fifth Third Bancorp Full Year 2024 Earnings: In Line With Expectations

Fifth Third Bancorp (NASDAQ:FITB) Full Year 2024 Results

Key Financial Results

• Revenue: US$7.95b (down 3.0% from FY 2023).
• Net income: US$2.16b (down 2.6% from FY 2023).
• Profit margin: 27% (in line with FY 2023).
• EPS: US$3.16 (down from US$3.23 in FY 2023).

FITB Banking Performance Indicators

• Net interest margin (NIM): 2.90% (down from 3.05% in FY 2023).
• Cost-to-income ratio: 59.2% (down from 59.6% in FY 2023).
• Non-performing loans: 0.69% (up from 0.55% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Fifth Third Bancorp Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

The primary driver behind last 12 months revenue was the Consumer and Small Business Banking segment contributing a total revenue of US$4.94b (62% of total revenue). The largest operating expense was General & Administrative costs, amounting to US$3.73b (64% of total expenses). Explore how FITB's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Banks industry in the US.

Performance of the American Banks industry.

The company's shares are down 3.4% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Fifth Third Bancorp that you need to be mindful of.

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