PNC - The PNC Financial Services Group Inc. (PNC) Q2 2024 Earnings Call Transcript
2024-07-16 13:25:28 ET
The PNC Financial Services Group, Inc. (PNC)
Earnings Conference Call
July 16, 2024 10:00 AM ET
Company Participants
Bryan Gill - Director of IR
William Demchak - Chairman, President & CEO
Robert Reilly - EVP & CFO
Conference Call Participants
Betsy Graseck - Morgan Stanley
John Pancari - Evercore
Erika Najarian - UBS
Scott Siefers - Piper Sandler
Ebrahim Poonawala - Bank of America
Bill Carcache - Wolfe Research
Ken Usdin - Jefferies
Mike Mayo - Wells Fargo
Matt O'Connor - Deutsche Bank
Gerard Cassidy - RBC
Presentation
Operator
Greetings, and welcome to The PNC Financial Services Group Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Bryan Gill. Thank you, Bryan, you may begin.
Bryan Gill
Well, good morning. Welcome to today's conference call for The PNC Financial Services Group. I am Bryan Gill, the Director of Investor Relations for PNC, and participating on this call are PNC's Chairman, CEO, Bill Demchak; and Rob Reilly, Executive Vice President and CFO.
Today's presentation contains forward-looking information, cautionary statements about this information as well as reconciliations of non-GAAP measures are included in today's earnings release materials as well as our SEC filings and other investor materials. These are all available on our corporate website, pnc.com under invest relations. These statements speak only as of April 16, 2024, and PNC undertakes no obligation to update them.
Now, I'd like to turn the call over to Bill.
William Demchak
Thank you, Bryan, and good morning, everyone. As you've seen, we had a strong second quarter, and we generated $1.5 billion in net income, or $3.39 diluted earnings per share. Our results included a gain on a portion of our Visa Class B shares, which was substantially offset by other items in the quarter, including a securities repositioning. Rob is going to provide more details on that Visa gain financial results and outlook in a second, but I'll highlight a few items....
The PNC Financial Services Group, Inc. (PNC) Q2 2024 Earnings Call Transcript