SunTrust earnings rise in first quarter

SunTrust earnings rise in first quarter

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SUNTRUST EARNINGS RISE 33% IN QUARTER.. an accounting controversy last fall that resulted in the company restating earnings of more than $25 million for the first half of 2004.

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With that said, let me highlight some of the specifics for SunTrust earnings in the first quarter. Loan growth remained strong, evidenced by a 3%.

SunTrust Banks, Inc. today reported net income for the first quarter of 2004 of $358.5 million, up 9% from the first quarter of 2003. Net income per diluted share was $1.26, up 8% from the $1.17 per diluted share earned in the first quarter of 2003.

The company said it had $80 million in merger and restructuring-related charges in the first quarter. BB&T reported adjusted earnings, which excludes those charges, of $1.05 a share. Analysts were still expecting $1.03 a share. SunTrust reported earnings of $1.24 a share, down from $1.29 a share. Analysts were expecting $1.30 a share.

"SunTrust has delivered good performance in the first half of 2019, with revenue increasing by 3%, the adjusted tangible efficiency ratio improving by 50 basis points, and earnings per share.

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