Citigroup Inc

C: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$86.00	Snvg	Jfnghqbd

Citigroup Earnings: Turnaround Remains Complex; Expense Management Actions Are Encouraging

Suryansh Sharma

Jan 13, 2024

No-moat-rated Citigroup posted a disappointing set of numbers in the fourth quarter with a loss of $1.8 billion or $1.16 per share. The quarterly loss was primarily due to various nonrecurring charges, including $1.7 billion for an FDIC special assessment charge for uninsured deposits of certain failed banks during the banking turmoil, $0.8 billion for restructuring charges related to organizational simplification, $0.9 billion to account for the impact of Argentina currency devaluation, and $1.3 billion in transfer risk related to Russia and Argentina. Citi’s earnings per share is estimated to be $0.84 per share after excluding the nonrecurring charges.

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