Will High Costs Impact People's United (PBCT) Q3 Earnings?
Zacks Investment Research | Oct 16, 2017 10:53PM ET
People's United Financial, Inc. (NASDAQ:PBCT) is scheduled to report third-quarter 2017 results on Oct 19. While revenues and earnings are anticipated to grow year over year, we can’t conclusively predict a likely earnings beat.
Before we discuss why an earnings beat might not be in store and what could influence the results, let’s take a look at how the company performed in the last quarter.
Driven by higher revenues and lower provisions, People's United reported a positive earnings surprise of 4.4% in second-quarter 2017. Further, elevated loans and deposits balances were tailwinds. However, escalating expenses and decline in profitability ratios were the undermining factors.
Notably, People's United delivered positive earnings surprises in two of the four trailing quarters, with an average beat of 3.26%.
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