How do you think the earnings report will look this Monday (3/22)?
11 replies (most recent on top)
Dear Mike Mayo,
In addition to being stuck in second gear, the Truist corvette has a flat tire, blown head gasket, broken timing belt, and a worn clutch. Our driver (Bill) and racing team (EL) can’t get the car out of pit lane and just got lapped, again.
Free Diddy!
Hopefully bad enough that BillyBob, BS Beau and Yes Man Mike are shown the door.
They should be prosecuted using the Enron laws for as badly as they have done.
Not good folks
@rux+1s6emt0y Really? Because imo Credit has had a stranglehold on this bank. I've never seen us go 'bigger and bolder' lol. If anything we kept listening to Mr. Lerner shouting "Recession!" for the past 3 years and have been the opposite of 'bigger and bolder' with many of our credit decisions...
This bank, much like its leadership, is TRASH
Where’s that tough guy from Philly to counter my point???
keep reading the expectation is a "beat"
During the merger certain executives were bragging about how regional banks could loan bigger and bolder than the national banks. This is where it got Truist. These guys got greedy and fundamentally do not understand rates, business cycles and elementary economics. Nevermind though, taxpayers are standing by for the bailout.
The one year anniversary of the 2023 shareholder meeting is almost upon us. Rogers at this meeting defended the board size and touted how well Truist was doing and how bright the future was. Six months later he announced the BOD was being reduced to 13, a 750 million cost saving program that included 300 million in headcount reductions. Soon after that he changed the management structure to a group of 23 after naming Beau COO. In the last 10 days he has dismissed the CIO (CTO in most worlds) and the CAO. Total assets have declined about 4% while share price continues to under perform. Make no mistake, Bill is under pressure and has a short lease to show massive improvement. He and Mike were expecting 3 or more rate reductions to help bail them out, that’s not going to happen. The clock is ticking Bill, tick tock, tick tock, the sand is getting low in the hour glass. It is fairly obvious that some of the institutional investors have been applying pressure behind the scenes and time is running out on this management team. Bill got everything he wanted in the merger, control of the entity with most of his hand picked group in place to run it and they have sh*t the bed. He will walk away with almost 50 million in stock so he’ll be fine. The destruction he has led will take some time to repair.
They will beat the street expectations
*4/22?