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Barclays PLC (BCS)

  • Thu, Oct. 29, 9:50 AM
    • Calling the numbers "slightly disappointing" at first glance, KBW - which rates the stock an Outperform - says the miss is mostly due to £175M in higher costs that weren't offset by lower impairments or higher other income.
    • Jefferies - which rates the stock a Buy - calls the results "not strong," and missing on all items except for impairments. Investment banking performance was ok with a 9% revenue increase, but increased structural reform costs could results in cuts to consensus estimates.
    • Citi - also rating the stock a Buy - agrees, and expects low, single-digit reductions in EPS estimates thanks to additional costs.
    • BCS -5.5%
    • Previously: Barclays reports Q3 results (Oct. 29)
    | Thu, Oct. 29, 9:50 AM | Comment!
  • Thu, Oct. 29, 9:16 AM
    • Barclays (NYSE:BCS): Q3 EPS of £0.179
    • Revenue of £17.62B (-2.8% Y/Y).
    • Shares -5.9% PM.
    • Press Release
    | Thu, Oct. 29, 9:16 AM | Comment!
  • Wed, Jul. 29, 6:22 AM
    • Barclays (NYSE:BCS) reports 1H15 total income net of insurance claims at £12.98B down 3% as non core income reduced to £42M.
    • Profit before tax at £3.73B up 11% reflecting improvement in core operating business,
    • EPS at £0.13/share vs. £0.11/share in 1H14.
    • Press Release
    | Wed, Jul. 29, 6:22 AM | Comment!
  • Wed, Apr. 29, 3:26 AM
    • Barclays (NYSE:BCS) has set aside another £800M ($1.2B) to cover a potential settlement for alleged foreign exchange manipulation, bringing its total provision for resolving the scandal to £2.05B.
    • The bank also reported a first-quarter statutory pretax profit of £1.3B (-26% Y/Y), and underlying pretax profit, which strips out the provision, of £1.85B (+9% Y/Y).
    | Wed, Apr. 29, 3:26 AM | Comment!
  • Tue, Mar. 3, 3:20 AM
    • Despite a 12% uptick in pre-tax profit, Barclays (NYSE:BCS) reported a net loss of £174M for 2014, compared to net profit of £540M a year earlier.
    • Over the past year, the bank has been hit with probes ranging from forex manipulation to accusations that it misled customers in its dark pool.
    • Barclays, which remains in talks with regulators, put aside an additional £750M in Q4 to deal with the allegations.
    | Tue, Mar. 3, 3:20 AM | Comment!
  • Oct. 30, 2014, 8:50 AM
    • Barclays (NYSE:BCS): Nine months ended Adjusted NOI of £18.12B (-4.1% Y/Y).
    • PAT of £3.31B vs. £3.21B prior.
    • Basic EPS of £0.161 vs. £0.19 prior.
    • Press Release
    | Oct. 30, 2014, 8:50 AM | Comment!
  • Jul. 30, 2014, 7:18 AM
    • Barclays (NYSE:BCS) Q2 net income of £161M was ahead of expectations and compared to last year's Q2 loss of £168M.
    • Amid a restructuring plan which includes the slashing of 19K jobs over the next three years, management - on the earnings call - said about 5K have been eliminated so far this year and headcount is at its lowest since 2007.
    • The bank also set aside another £900M to compensate clients for improper sales of payment protection insurance. Thus far, Barclays has paid out £3.56B in claims.
    • Full report
    • Shares +4.2% premarket
    | Jul. 30, 2014, 7:18 AM | Comment!
  • May 6, 2014, 7:09 AM
    • Behind the decline in income at Barclays (BCS) in Q1 was a 49% dive in income at the investment bank as business evaporates in fixed income, currencies, and commodities. Traditionally, the largest source of revenue for the investment bank, FICC income fell 41% to £1.2B.
    • "A lot weaker than expected," says Shore Capital's Gary Greenwood of the FICC number. "The key questions are: What are they doing with their investment-banking business and how are they going to stem these declines?”
    • Later this week, CEO Antony Jenkins will present details of an overhaul of the investment bank. Ahead of the presentation has been a rash of top-level management exits.
    • "We are obviously going through a number of changes as part of our strategic review and that may or may not have prompted some people to move on,” says Finance Director Tushar Morzaria on a reporter conference call. He notes the bank's difficulties in FICC have continued in Q2.
    • Shares -3.1% premarket
    • Previously: Barclays reports Q1 results
    • Previously: More high-level departures at Barclays
    | May 6, 2014, 7:09 AM | 2 Comments
  • May 6, 2014, 6:47 AM
    • Barclays (BCS) Q1 adjusted profit before tax decreased 5% to £1.69B.
    • Statutory profit before tax rose 18% to £1.81B.
    • Adjusted income fell 14% to £6.65B sighting a reduction in Investment Bank.
    • Shares -2.7% premarket.
    • Press Release (.pdf)
    | May 6, 2014, 6:47 AM | Comment!
  • May 5, 2014, 5:30 PM
  • Apr. 24, 2014, 5:35 AM
    • Barclays (BCS) expects to report a "small reduction" in Q1 adjusted pretax profit due to a "significant" drop in revenue from the fixed-income credit and commodities (FICC) operations at the company's investment bank.
    • CEO Anthony Jenkins said the decline reflects "difficult market conditions and a strong comparative performance for Q1 last year."
    • Barclays' FICC woe echoes the sharp falls in revenue that JPMorgan, Goldman Sachs and Citigroup have suffered at their respective operations.
    • However, Barclays' cost-cutting program is beginning to show a "material benefit," Jenkins said.
    • Barclays disclosed the information prior to its annual meeting today.
    • Shares are +1.1% premarket.
    | Apr. 24, 2014, 5:35 AM | 1 Comment
  • Feb. 11, 2014, 4:45 AM
    • Barclays' (BCS) Q4 net losses rose to £514M ($843.9M) from £364M a year earlier, partly due to increased restructuring costs, a higher levy related to riskier financing, and a £331M charge for litigation and regulatory penalties.
    • Adjusted pretax profit dropped to £191M from £1.4B.
    • The investment bank swung to a pretax loss of £329M from a profit of £760M a year earlier, with the division's performance hurt by higher operating costs, a decline in its fixed-income business and £87M in restructuring costs.
    • The retail bank's pretax profit dropped to £212M from £275M; Q4 2013 included £119M in restructuring expenses.
    • Barclays' Tier 1 capital ratio rose to 13.2% by the end of 2013 from 10.8% in 2012.
    • Shares are -2.1% in London.
    • Previous
    | Feb. 11, 2014, 4:45 AM | 1 Comment
  • Feb. 11, 2014, 3:02 AM
    • Barclays (BCS) swung to a full-year net profit of £540M from a loss of £624M in 2012.
    • EPS 3.7 pence vs a loss per share of 4.8 pence.
    • Total income rose to £28.44B from £25.61B; adjusted income -4% to £28.16B.
    • Barclays plans to reduce its balance sheet by up to another £105B by next year.
    • Profits at the investment bank tumbled 37% to £2.5B and income declined 9% to £10.7B, mainly due to a drop in fixed income. Nonetheless, Barclays increased bonuses at the business by 13% to £1.57B.
    • Barclays' compensation to income ratio rose to 43.2% in 2013 from 40% in 2012 even though the bank's target is in the "mid-30s."
    • As disclosed yesterday, pretax profit fell 32% to £5.2B. (Results announcement)
    | Feb. 11, 2014, 3:02 AM | Comment!
  • Feb. 10, 2014, 6:54 AM
    • Barclays' (BCS) 2013 adjusted pretax profit of £5.2B ($8.52B) missed analyst consensus of £5.4B and was below 2012's figure of £7.05B.
    • Statutory pretax earnings of £2.9B was well above the £246M that Barclays generated a year earlier.
    • The bank provided no further details, although it will release full results tomorrow.
    • Last month, Barclays said it would take a £330M Q4 charge related to regulatory penalties and lawsuits.
    • Shares are +1.3% premarket. (PR)
    • Previous
    • Massive data leak
    | Feb. 10, 2014, 6:54 AM | Comment!
  • Feb. 10, 2014, 5:24 AM
    • Barclays (BCS) earned adjusted pretax profit of £5.2B in 2013 and statutory pretax profit of £2.9B, the bank said, adding that it will release its full results tomorrow morning.
    • Barclays' statement follows reports of a major breach in which the data of 27,000 clients was stolen.
    • Shares are +0.2% premarket. (PR)
    | Feb. 10, 2014, 5:24 AM | Comment!
  • Oct. 30, 2013, 4:09 AM
    • Barclays (BCS) swings to net profit of £511M from a loss of £183 last year, which was hit by a £700M charge, with the figures also reflecting fluctuations in value of the bank's debt.
    • Pretax profit at Barclays' investment bank more than halved to £463M, hurt by a sharp fall in earnings from fixed-income trading.
    • Spent £101M on restructuring program.
    • Barclays has joined Deutsche Bank and UBS in saying that it has received inquiries from regulatory and enforcement authorities about possible forex manipulation, and it is reviewing several years of trading through August 2013.
    • Unlike Lloyds, Barclays has avoided further charges for the mis-selling of payment-protection insurance.
    • Shares +2.4% in London. (Previous) (PR)
    | Oct. 30, 2013, 4:09 AM | Comment!
Company Description
Barclays PLC is a financial services provider engaged in personal banking, credit cards, corporate and investment banking and wealth and investment management. It operates in Europe, the Americas, Africa and Asia.