KeyCorp (KEY) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates

KeyCorp (KEY) reported $1.52 billion in revenue for the quarter ended March 2024, representing a year-over-year decline of 10.8%. EPS of $0.22 for the same period compares to $0.44 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.51 billion, representing a surprise of +0.78%. The company delivered an EPS surprise of -4.35%, with the consensus EPS estimate being $0.23.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how KeyCorp performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Net Interest margin - Proforma: 2% versus the seven-analyst average estimate of 2.1%.

• Average balance - Total earning assets: $170.02 billion versus $169.90 billion estimated by seven analysts on average.

• Net loan charge-offs to average loans: 0.3% versus 0.3% estimated by six analysts on average.

• Cash Efficiency Ratio (non-GAAP): 74% versus 72.6% estimated by six analysts on average.

• Nonperforming assets - Total: $674 million versus the three-analyst average estimate of $556.76 million.

• Nonperforming loans at period-end: $658 million versus the two-analyst average estimate of $519.93 million.

• Total Risk-based Capital Ratio: 14.5% versus the two-analyst average estimate of 13.8%.

• Leverage Ratio: 9.1% versus the two-analyst average estimate of 9.4%.

• Tier 1 Risk-based Capital Ratio: 12% versus the two-analyst average estimate of 11.5%.

• Trust and investment services income: $136 million compared to the $132.80 million average estimate based on seven analysts.

• Service charges on deposit accounts: $63 million compared to the $64.95 million average estimate based on seven analysts.

• Corporate services income: $69 million compared to the $69.05 million average estimate based on seven analysts.

View all Key Company Metrics for KeyCorp here>>>

Shares of KeyCorp have returned -4.1% over the past month versus the Zacks S&P 500 composite's -1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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