Morgan Stanley 8-K
PositiveEarnings
Equity strength and record Wealth Management revenue offset Investment Management’s carried-interest reversal.
Filed 2026-10-14 07:39 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Morgan Stanley’s Q3 2026 results: net revenues rose 12% Y/Y to $20.3B and net income applicable to Morgan Stanley rose 6% to $4.91B. Strength in Institutional Securities and record Wealth Management revenues offset lower Investment Management results.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Net revenues | $20.3B, +12% Y/Y | $62.3B, +18% Y/Y |
| Net income applicable to Morgan Stanley | $4.91B, +6% Y/Y | $16.1B, +29% Y/Y |
| Diluted EPS | $3.03, +8% Y/Y | $9.93, +32% Y/Y |
| Return on average common equity | 17.8%, vs 18.0% | 19.8%, vs 16.5% |
| Return on average tangible common equity (non-GAAP) | 22.6%, vs 23.5% | 25.4%, vs 21.6% |
| Wealth Management net new assets | $232B, +187% Y/Y | — |
- Institutional Securities revenue rose 18% to $10.0B, led by Equity, up 41%. Wealth Management posted record revenue of $9.1B, up 10%, on higher asset management fees and net interest income; just over half of its net new assets were IPO-related. Investment Management revenue fell 12% to $1.46B, primarily on a reversal of accrued carried interest.
- Provision for credit losses was $148M vs $0 a year earlier, primarily reflecting portfolio growth; the quarter included $105M of charge-offs on corporate and commercial real estate loans that had largely been provisioned in prior quarters.
- Morgan Stanley repurchased $1.54B of common stock, vs $1.09B a year earlier, buying 7M shares in each period. Period-end shares outstanding were 1.565B vs 1.591B. The board declared a $1.15 quarterly dividend payable 11/13/2026; the standardized Common Equity Tier 1 ratio was 14.9%, vs 15.1%.
Guidance
No guidance in this filing.
Investor Takeaways
- Next-quarter Institutional Securities Equity revenue and Wealth Management asset flows will indicate whether the client-engagement and asset-growth drivers persisted.
- Investment Management’s performance-based income and long-term flows are worth watching after the quarter’s carried-interest reversal; long-term net flows were $15.8B.
The summary is written by an AI model reading the filing.
Model 005 · prompt 8bef31e277 · 2026-10-14 14:33:38Z