Citizens Financial Group, Inc. (CFG) has reported a substantial increase in its fourth-quarter profit compared to the previous year, surpassing Wall Street expectations. The company posted a net income of $367 million, equating to $0.83 per share, up from $159 million, or $0.34 per share, in the same quarter last year. When excluding certain items, the adjusted earnings were $378 million, or $0.85 per share.
Analysts, as surveyed by Thomson Reuters, had predicted earnings of $0.83 per share, typically excluding special items from their estimates.
Revenue for the quarter experienced a slight decline, slipping by 0.1% to $1.986 billion from $1.988 billion in the previous year.
A summary of Citizens Financial Group, Inc.'s earnings under GAAP standards is as follows:
- Fourth Quarter Earnings: $367 million, compared to $159 million last year.
- Earnings Per Share (EPS) for Q4: $0.83, up from $0.34 a year ago.
- Revenue for Q4: $1.986 billion, slightly down from last year's $1.988 billion.
