Upcoming Earnings Watch: Week of July 8 - 12, 2024
This Friday marks a significant day for the financial sector as three major U.S. banks are set to report their quarterly earnings. Wells Fargo, JP Morgan Chase, and Citigroup will provide insights into the health of the banking industry and the broader economy. Here's what investors should keep an eye on:
Friday, July 12th
Wells Fargo (WFC) - ★★★
Ranked #74 in Q3 2024 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $1.28
Key indicators to watch: • Net interest income and net interest margin, given recent interest rate trends • Progress on cost-cutting initiatives and efficiency ratio • Credit quality metrics, including loan loss provisions and net charge-offs • Updates on regulatory compliance and efforts to lift the asset cap imposed by the Federal Reserve
JP Morgan Chase (JPM) - ★★★★
Ranked #46 in Q3 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $4.55
Key indicators to watch: • Investment banking revenue, particularly in M&A and equity underwriting • Trading revenue, especially in fixed income and equities • Performance of the consumer banking segment, including credit card spending trends • Updates on the integration of First Republic Bank, acquired earlier this year • Commentary on economic outlook and potential impact on future performance
Citigroup (C) - ★★★★
Ranked #30 in Q3 Large Cap Equity Rankings
Earnings per share (EPS) estimate: $1.40
Key indicators to watch: • Progress on strategic reorganization and cost reduction plans • Performance of international consumer banking operations • Trends in institutional clients group, including trading and investment banking • Updates on the wind-down of operations in certain international markets • Asset quality metrics and loan loss reserves
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