KeyCorp (KEY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to KeyCorp's second quarter 2025 earnings conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. If you'd like to ask a question, please press star 1 on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to Brian Monning, KeyCorp Director of Investor Relations. Please go ahead. Thank you, Operator, and good morning, everyone. I'd like to thank you for joining Key Corp's second quarter 2025 earnings conference call. I'm here with Chris Gorman, our Chairman and Chief Executive Officer, and Clark Kyatt, our Chief Financial Officer. As usual, we will reference our earnings presentation slides, which can be found in the Investor Relations section of the Key.com website. In the back of the presentation, you will find our statement on forward-looking disclosures and certain financial measures, including non-GAAP measures. This covers our earnings materials as well as remarks made on this morning's call. Actual results may differ materially from forward-looking statements, and those statements speak only as of today, July 22, 2025, and will not be updated. With that, I will turn it over to you, Chris. Thank you, Brian, and good morning, everyone. Today, we've reported strong second quarter results in what can be described as a dynamic and complex macro environment. Earnings per share were $0.35, even while we added $36 million to our loan loss reserves and elected to pre-fund our charitable foundation this quarter. Revenues were up 21% from a year ago, while expenses were up about 6%, excluding the charitable contribution. Our pre-provision net revenue increased by $44 million sequentially, marking the fifth str...