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Reported Q: Q3 2024 Rev YoY: -1.4% EPS YoY: -6.1% Move: +0.31%

Citigroup Inc

$124.15 0.31%

Exchange NYSE Sector Financial Services Industry Banks Diversified

Q3 2024

Published: Nov 7, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for C

Reported

Report Date

Nov 7, 2024

Quarter Q3 2024

Revenue

19.86B

YoY: -1.4%

EPS

1.51

YoY: -6.1%

Market Move

+0.31%

Previous quarter: Q2 2024

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Earnings Highlights

Revenue of $19.86B down 1.4% year-over-year
EPS of $1.51 decreased by 6.1% from previous year
Gross margin of 100.0%
Net income of 3.24B
""...while we continue to make substantial investments in our transformation, the efficiencies gained from our simplification and other efforts drove a 2% reduction in overall expenses."" - Jane Fraser

Citigroup Inc

Period Q3 2024

Currency USD

Report Type Quarterly Earnings

Generated Feb 10, 2026

Executive Summary

Citigroup Inc reported a stable performance in Q3 2024 with net income of $3.238 billion and earnings per share (EPS) of $1.51, demonstrating resilience in the face of fluctuating macroeconomic conditions. Notably, revenue increased by 3% year-over-year excluding divestitures, supported by strong performance across all business segments. Management expressed confidence in their ongoing transformation strategy, which emphasizes operational efficiency and revenue diversification. The earnings growth was particularly attributed to a healthy demand in fee-based services and banking activities, despite market challenges and interest rate dynamics.

Key Performance Indicators

Revenue

Decreasing

19.86B

QoQ: -1.40% | YoY: -1.39%

Gross Profit

Decreasing

19.86B

1.00% margin

QoQ: -1.40% | YoY: -1.39%

Operating Income

Decreasing

6.72B

QoQ: -3.06% | YoY: -0.06%

Net Income

Decreasing

3.24B

QoQ: 0.65% | YoY: -8.69%

EPS

Decreasing

1.54

QoQ: 0.00% | YoY: -6.10%

Revenue Trend

Margin Analysis

Financial Highlights

### Key Financial Metrics (Q3 2024)
- Total Revenue: $19.862 billion (YoY growth of 3% ex-divestitures)
- Net Income: $3.238 billion (Net Margin: 16.3%, EPS: $1.51)
- CET1 Ratio: 13.7%
- Return on Tangible Common Equity (RoTCE): 7%
- Operating Expenses: $13.3 billion, down 2% YoY

Citi demonstrated improved efficiency with a slight reduction in expenses while investing in transformation efforts, reflecting positive operating leverage across all business lines. The net interest income (NII) decreased by 1%, impacted largely by the interest rate environment in Argentina, while non-interest revenue saw a significant uptick of 9%.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	19.86B	-1.39%	-1.40%
Gross Profit	19.86B	-1.39%	-1.40%
Operating Income	6.72B	-0.06%	-3.06%
Net Income	3.24B	-8.69%	0.65%
EPS	1.54	-6.10%	0.00%

Key Financial Ratios

Gross Profit Margin

Weak

1.00%

Gross profit margin is below industry norms, profitability concerns

Operating Profit Margin

Excellent

33.80%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Good

16.30%

Net profit margin is healthy and competitive within industry standards

Return on Assets

Weak

0.13%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

1.55%

Return on equity suggests inefficient capital allocation

Current Ratio

Concern

0.05

Current ratio below safe levels, potential liquidity risk

Debt to Equity

High Risk

1.63

Debt-to-equity indicates high leverage and elevated financial risk

P/E Ratio

Value

9.18x

P/E ratio suggests potential undervaluation or stable earnings

Price to Book

Undervalued

0.57x

Trading below book value, potential value opportunity or distressed

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q1 2025	41,460.00	1.99	+96.6%	View
Q4 2024	17,023.00	1.34	-9.6%	View
Q3 2024	19,862.00	1.51	-1.4%	View
Q2 2024	20,144.00	1.52	+3.6%	View
Q1 2024	21,094.00	1.58	+3.4%	View

Citigroup Inc (C) Q3 2024 Earnings Report

Company Status Snapshot

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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