Citizens Financial Q3 revenue slightly misses estimates
CFG•Citizens Financial reported Q3 revenue of $2.32 billion, slightly below the $2.34 billion consensus, while net income was $636 million and EPS was $1.41. The company raised its dividend 13% and expanded its share buyback program by $1.3 billion.
1. Quarterly results
Citizens Financial’s Q3 revenue slightly missed analyst expectations, at $2.32 billion versus a $2.34 billion consensus. Net income was $636 million and EPS was $1.41; net interest income was $1.68 billion and the CET1 capital ratio was 10.50%.
2. Credit and capital returns
The provision for credit losses fell to $125 million from $154 million a year earlier, reflecting Non-Core runoff, improving credit trends and a better loan mix. Lower mortgage banking and capital-markets fees weighed on noninterest income quarter over quarter, partly offset by record wealth fees. The company raised its dividend 13% and expanded its share buyback program by $1.3 billion.
3. Company outlook
Citizens Financial said it remains confident in its outlook for Q4 and for 2027.
