Company raises full-year guidance, citing strong momentum
Huntington reported strong Q3 results with peer-leading loan and deposit growth, raised full-year NII and fee income guidance, and expressed high confidence in the upcoming Veritex acquisition. Management downplayed industry credit headwinds and noted it was not involved in Comerica M&A. Q3 adjusted EPS $0.40, +18% YoY; loan growth 9.2% YoY; deposit growth strong.
Buzzberg readCompany raises full-year guidance, citing strong momentumHuntington reported strong Q3 results with peer-leading loan and deposit growth, raised full-year NII and fee income guidance, and expressed high confidence in the upcoming Veritex acquisition. Management downplayed industry credit headwinds and noted it was not involved in Comerica M&A. Q3 adjusted EPS $0.40, +18% YoY; loan growth 9.2% YoY; deposit growth strong.Read full analysisCollapse analysis
Huntington reported strong Q3 results with peer-leading loan and deposit growth, raised full-year NII and fee income guidance, and expressed high confidence in the upcoming Veritex acquisition. Management downplayed industry credit headwinds and noted it was not involved in Comerica M&A. Q3 adjusted EPS $0.40, +18% YoY; loan growth 9.2% YoY; deposit growth strong.
Raised FY2025 NII growth guidance to 10-11% (from 8-9%) and fee income growth to ~7% (from 4-6%).
Veritex acquisition to close next Monday; expected to add 2-3 bps to NIM in Q4 and drive long-term revenue synergies.
Management confirmed it was not involved in Comerica, hinting at other M&A dynamics.
Revenue$3.228B
reported
EPS$0.40
reported
Gross margin62.33%
reported
Op margin23.73%
reported
What changed this quarter
01
Guidance
Company raises full-year guidance, citing strong momentum
Guidance tone
02
M&A
Veritex deal to close Monday, providing Texas springboard
Reported gross margin was 62.33%, reinforcing the quarter's better-than-guided profitability.
04
Buybacks
Plans share repurchases of $50M per quarter through 2026
Veritex acquisition to close next Monday; expected to add 2-3 bps to NIM in Q4 and drive long-term revenue synergies.
Demand
Demand
Bookings & conversion
Organic loan growth remains strong, mid-to-high single digits expected next year. Management repeatedly emphasized strong momentum, raised guidance, and expressed high confidence in growth strategies and the Veritex integration.
Tone · Confident
Management repeatedly emphasized strong momentum, raised guidance, and expressed high confidence in growth strategies and the Veritex integration.
Supply-chain alpha
A1
Huntington explicitly stated it was not involved in the Comerica transaction, suggesting that CMA may have been an M&A target with other interested parties.
… take away from this call. First, we continue to execute our growth strategy with excellent results. All elements of our model are contributing to this growth and we will continue investing to generate a high level of growth into the foreseeable future. Second, we are achieving top tier profitability and returns as an outgrowth of our revenue generation and strong positive operating leverage. And third, We are poised to further accelerate our growth in Texas. We look forward to welcoming our Veritex colleagues and customers to Huntington next Monday. The partnership and interim planning efforts led by Malcolm Holland and team have positioned us for a fast start, initiating the springboard we envisioned. So we're very excited for what lies ahead. Slide six illustrates the outcomes of these key messages. Our foundational organic growth strategy is to deliver our national scale capabilities and expertise through local market relationships. You can see the results of that on the top of this slide. We have massively outpaced our peers on both loan and deposit growth, the outcome of which is the phenomenal pace of our PPNR expansion. And given our rigorous adherence to our risk …
Huntington explicitly stated it was not involved in the Comerica transaction, suggesting that CMA may have been an M&A target with other interested parties. — For Comerica, this confirms HBAN was not a bidder, narrowing the field of potential acquirers and supporting speculation that CMA was actively marketed.
Very helpful. Thank you. And then maybe Steve on the – The strategic question, right? You've got a lot of momentum in your business. I think you've got a stock that people want to own. Can you just speak to the M&A conversations that might be happening as you kind of close the Bear Tech deal?
Chris, I was waiting for that one. Thank you for the question. You know, we've done three combinations in 15 years. We've invested a lot. in the last three years in the organic growth of the businesses, the Carolinas, the specialty businesses, Texas expansion, including the combination with Veritex. And we have a lot on our plate that will drive organic growth. That has been and continues to be our primary focus. We're extraordinarily pleased and confident of what we have before us at Veritex, excited to be closing Monday. This past Monday through Wednesday, our board was in Texas meeting with our new colleagues. Brand Standridge has gotten us into a great position for an accelerated start with Malcolm Holland and team. And I think we've got a lot to go after. So those are the priorities. You know, again, we've had three combinations in 15 years. At some point, there'll be something else. But our focus is driving the organic growth of the company and I'm going to preempt the potential another question. We were not involved in Comerica. We are focused on driving organic growth of the company. Thanks, Steve. Thanks, Chris.