BB&T Corporation (NYSE:BBT) Q4 2017 Earnings Conference Call - Final Transcript
Jan 18, 2018 • 08:00 am ET
Daryl N. Bible
2017. Taxable equivalent revenues up 2% to 4% and expenses flat, excluding merger related and restructuring chargers and other one-time items and an effective tax rate of about 21%.
While we continue to -- continue investing and drive improved revenue growth, we feel very confident that our flat expenses will result in positive adjusted operating leverage for full year 2018.
In summary, we had very strong fourth quarter earnings, positive adjusted operating leverage for both linked and like quarter, excellent credit quality and good expense control. Now, let me turn it back over to Kelly for closing remarks and Q&A.
Kelly S. King
Thanks, Daryl. So again, just to summarize my point of view. As Daryl said, we did have a strong quarter of positive adjusted operating leverage. That's a big deal. Our adjusted EPS was up 15% versus fourth quarter '16. We had a lot of headwinds that are turning into tailwinds. We have a number of key strategic initiatives that I described to you, which will have a big impact during the year and the years beyond. We have laser focused on organic growth, which is a big deal. We think the economy will be better. There will be less taxes, there will be less regulation. To put all that together, it's a good time to be in banking, so we think 2018 will be a very strong year.
Okay. Thank you, Kelly. At this time, we will begin our Q&A session. Anthony, if you would come back on the line and explain how our listeners may participate in the session?