KeyCorp

KEY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$82.00	Pnfwx	Ncfvhmsfv

KeyCorp Earnings: Net Interest Income Outlook Keeps Falling; Needs Some Headwinds To Reverse

Eric Compton

Jul 21, 2023

No-moat-rated KeyCorp reported weak second-quarter results. EPS of $0.27 missed FactSet consensus of $0.32 as well as our estimate of $0.41. The miss was primarily attributed to lower net interest income, which was $978 million compared with our estimate of $1,045 million, and lower fee income, which was $609 million compared with our estimate of $673 million.

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