Citigroup Q2 2020 earnings

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Pedestrians walk past a Citibank branch in Washington, D.C.

Andrew Harrer | Bloomberg | Getty Images

Citigroup is set to report its latest quarterly numbers later on Tuesday as the corporate earnings season kicks off.

Here’s what analysts expect from the banking giant’s second quarter of the year:

  • Earnings: 28 cents per share expected by Refinitiv
  • Revenue: $19.12 billion forecast
  • Provision for credit losses: $6.99 billion expected by FactSet
  • Fixed income, currency and commodities trading revenue: $4.86 billion forecast by FactSet
  • Equities trading revenue: $929.8 million expected

Citigroup shares are up nearly 12{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} the last three months through Monday’s close, outperforming peers such as JPMorgan Chase, Wells Fargo and Bank of America. JPMorgan and Bank of America were roughly flat in that time and Wells lost 19.2{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}.

The bank announced in late June it would maintain its quarterly dividend after passing the Federal Reserve’s annual stress test. 

“While we will continue to evaluate our planned capital actions relative to the most recent financial and macroeconomic conditions, we believe we are well positioned to continue to support our customers and the broader economy,” said CEO Michael Corbat last month. 

Citigroup’s results Tuesday will come in what is expected to be the worst earnings season on Wall Street. Analysts polled by Refinitiv expect S&P 500 earnings to have fallen by 44{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} on a year-over-year basis. 

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