WASHINGTON (dpa-AFX) - Truist Financial Corp. (TFC) posted a fourth quarter
net loss of $5.2 billion, or $3.85 per share, impacted by: $6.1 billion or $4.53
per share non-cash goodwill impairment charge; $507 million or $0.29 per share
special FDIC assessment; $204 million, or $0.15 per share discrete tax benefit;
and $183 million or $0.10 per share primarily due to restructuring charges.
Adjusted net income was $1.09 billion or $0.81 per share, down 37.1% from a year
ago. On average, 18 analysts polled by Thomson Reuters expected the company to
report profit per share of $0.89, for the quarter. Analysts' estimates typically
exclude special items.

Fourth quarter revenue was $5.76 billion compared to $6.26 billion, prior year.
Analysts on average had estimated $5.69 billion in revenue.

For the first quarter, the company projects revenue to be flat to down 1% from
linked quarter. For fiscal 2024, the company expects revenue to decline 1% - 3%.

Shares of Truist Financial are up 3% in pre-market trade on Thursday.

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