KeyCorp reported fourth-quarter 2024 adjusted earnings per share of $0.38, surpassing the consensus analyst estimate of $0.33 and representing a 52% increase on the same period of the prior year. The results were published on 21 January 2025. Adjusted total revenues grew 15.9% year-on-year.
The headline result from continuing operations was a net loss of $279 million, driven by an after-tax charge of $657 million associated with the securities repositioning that management executed during the fourth quarter.
FULL-YEAR RESULTS
Full-year 2024 adjusted EPS was $1.16, compared with $1.15 in 2023, and total adjusted revenues on a tax-equivalent basis were $6.46 billion.
CAPITAL POSITION
KeyCorp's estimated CET1 ratio rose to 12.0% at the end of 2024 from 10.0% a year earlier and 10.8% at the end of September, helped by the completion of Scotiabank's minority equity investment in the bank during the quarter.