Capital One 8-K
PositiveEarningsImpairment / charge
Discover integration and expected synergies advance as charge-off rates decline
Filed 2026-10-20 16:05 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results. Capital One reported year-over-year earnings growth while management said Discover integration was progressing well and expected synergies were advancing.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Total net revenue | $16.3B, +6% Y/Y | $47.4B, +25% Y/Y |
| Net income | $3.54B, +11% Y/Y | $8.73B, vs $319M |
| Diluted EPS | $5.61, +16% Y/Y | $13.65, vs $0.23 |
| Adjusted diluted EPS, non-GAAP | $6.69, +12% Y/Y | $16.88, +5.5% Y/Y |
| Net interest margin | 8.41%, vs 8.36% | 8.10%, vs 7.69% |
| Net charge-off rate | 2.73%, vs 3.16% | 3.13%, vs 3.25% |
- Q/Q revenue increased 3%; non-interest expense fell 2%. Provision for credit losses decreased $73M Q/Q to $2.9B, including a $225M reserve release; net charge-offs were $3.1B.
- Adjusting items included acquisition amortization of $483M pre-tax ($0.60 diluted EPS), Discover integration expenses of $338M ($0.42), and Brex integration expenses of $47M ($0.06).
- Period-end loans held for investment were $462.5B, +4% Y/Y; deposits were $480.7B, +3%. The preliminary common equity Tier 1 capital ratio was 13.8%, vs 14.4% a year earlier. The quarterly dividend was $0.80/share, vs $0.60 Y/Y; period-end common shares were 601.5M, down 5% Y/Y.
Guidance
No guidance in this filing.
Investor Takeaways
- Watch Discover integration and synergy delivery, alongside credit performance in coming quarters.
The summary is written by an AI model reading the filing.
Model 005 · prompt v95 · 2026-10-20 22:33:35Z