Fifth Third Bancorp (0IM1.L) Q3 2024: 0im1 L

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Fifth Third Bancorp

0IM1.L

$45.94 1.16%

Exchange: LSE | Sector: Financial Services | Industry: Banks

Q3 2024

Published: Nov 5, 2024

Earnings Highlights

Revenue of $3.31B up 4.3% year-over-year
EPS of $0.78 decreased by 14.3% from previous year
Gross margin of 57.5%
Net income of 573.00M
"We are focused on optimizing our cost structure while we navigate the economic uncertainties. Our priority remains customer-centric solutions that leverage our digital investments." - CEO

0IM1.L

Fifth Third Bancorp

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Dec 8, 2025

Executive Summary

Fifth Third Bancorp reported its Q3 2024 results with total revenue reaching $3.31 billion, a 4.32% increase compared to Q3 2023 and a 1.60% increase from Q2 2024. Despite this revenue growth, net income declined by 13.18% YoY to $573 million, influenced by rising operating expenses and operational cost pressures. Management highlighted a more challenging economic environment impacting overall profitability and credit quality, indicating the need for strategic adjustments moving forward. This report delves into the key metrics that illustrate Fifth Third's financial health, along with management commentary highlighting strategic initiatives amidst a shifting market landscape.

Key Performance Indicators

Revenue

Increasing

3.31B

QoQ: 1.60% | YoY: 4.32%

Gross Profit

Decreasing

1.90B

57.48% margin

QoQ: -1.35% | YoY: -3.11%

Operating Income

Decreasing

728.00M

QoQ: -4.71% | YoY: -13.95%

Net Income

Decreasing

573.00M

QoQ: -4.66% | YoY: -13.18%

EPS

Decreasing

0.78

QoQ: -4.88% | YoY: -14.29%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue: $3.31 billion (+4.32% YoY, +1.60% QoQ)
Net Income: $573 million (-13.18% YoY, -4.66% QoQ)
EPS: $0.78 (-14.29% YoY, -4.88% QoQ)
Gross Profit Margin: 57.48% (YoY decrease of 3.11%, QoQ decrease of 1.35%)
Operating Income: $728 million (-13.95% YoY, -4.71% QoQ)
Operating Expense Ratio: 35.85%, driven by increased general and administrative costs reaching $746 million. These figures suggest resilience in revenue generation against headwinds in cost management and operational efficiency.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	3.31B	4.32%	1.60%
Gross Profit	1.90B	-3.11%	-1.35%
Operating Income	728.00M	-13.95%	-4.71%
Net Income	573.00M	-13.18%	-4.66%
EPS	0.78	-14.29%	-4.88%

Key Financial Ratios

Gross Profit Margin

Excellent

96.10%

Gross profit margin is exceptional, indicating strong pricing power and operational efficiency

Operating Profit Margin

Good

20.50%

Operating margin is healthy and competitive within industry standards

Net Profit Margin

Good

16.30%

Net profit margin is healthy and competitive within industry standards

Return on Assets

Weak

0.27%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

2.76%

Return on equity suggests inefficient capital allocation

Current Ratio

Concern

0.28

Current ratio below safe levels, potential liquidity risk

Debt to Equity

Elevated

0.90

Debt-to-equity shows significant leverage, monitor debt levels

P/E Ratio

Value

12.75x

P/E ratio suggests potential undervaluation or stable earnings

Price to Book

Fair Value

1.41x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2025	3,234.00	0.88	-0.8%	View
Q1 2025	3,075.00	0.71	-5.9%	View
Q4 2024	3,234.00	0.85	-1.9%	View
Q3 2024	3,311.00	0.78	+4.3%	View
Q2 2024	3,259.00	0.81	+8.6%	View

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Fifth Third Bancorp (0IM1.L) Q3 2024 Earnings Report

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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