PNC Financial Services 8-K
PositiveGuidance raisedEarnings
Loan and fee-income growth support raised FY2026 guidance; the common dividend increases 18%.
Filed 2026-07-15 13:43 ET
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results with Q3 outlook and raised FY2026 guidance. PNC reported record revenue, net interest income and fee income, with stronger credit quality and positive operating leverage. It returned $1.3B to shareholders and announced an 18% increase in the common dividend to $2.00 per share.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Revenue | $6.88B | $5.66B | +21% |
| Noninterest income | $2.77B | $2.11B | +31% |
| Fee income (non-GAAP) | $2.28B | $1.89B | +20% |
| Net income | $2.06B | $1.64B | +25% |
| Diluted EPS | $4.81 | $3.85 | +25% |
| Adjusted diluted EPS (non-GAAP) | $4.85 | $3.85 | +26% |
- Revenue growth reflected 16% higher net interest income and 20% higher fee income; average loans grew 13% Y/Y, while strong expense control supported 3% positive operating leverage.
- Shareholder returns totaled $1.3B: $0.7B in common dividends and $0.6B in repurchases. Period-end common shares were 399M, up 1.3% Y/Y; the common dividend rose $0.30, or 18%, to $2.00 per share.
- Average loans were $363.2B, up 13% Y/Y; deposits were $457.0B, up 8%. The nonperforming-loan ratio improved to 0.55% from 0.65%, while the estimated CET1 ratio was 9.9%, down 60 bp Y/Y.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Average loans (Y/Y vs FY2025) | FY2026 | Up ≈12.5% | Up ≈11% | Raised |
| Net interest income (Y/Y vs FY2025) | FY2026 | Up 15%-15.5% | Up ≈14.5% | Raised |
| Noninterest income (Y/Y vs FY2025; excludes specified items) | FY2026 | Up ≈9% | Up ≈6% | Raised |
| Total revenue (Y/Y vs FY2025; excludes specified items) | FY2026 | Up ≈13% | Up ≈11% | Raised |
| Noninterest expense (Y/Y vs FY2025; excludes specified items) | FY2026 | Up ≈8.5% | Up ≈7% | Raised |
| Effective tax rate | FY2026 | ≈19.5% | ≈19.5% | Reaffirmed |
| Noninterest income, GAAP (Y/Y vs FY2025) | FY2026 | Up ≈11% | — | — |
| Total revenue, GAAP (Y/Y vs FY2025) | FY2026 | Up ≈14% | — | — |
| Noninterest expense, GAAP (Y/Y vs FY2025) | FY2026 | Up ≈11% | — | — |
| Average loans (Q/Q vs Q2 2026) | Q3 2026 | Up 1%-2% | — | — |
| Net interest income (Q/Q vs Q2 2026) | Q3 2026 | Up 3%-3.5% | — | — |
| Fee income (non-GAAP; Q/Q vs Q2 2026) | Q3 2026 | Down 5%-5.5% | — | — |
| Other noninterest income | Q3 2026 | $150M-$200M | — | — |
| Noninterest expense, as adjusted (non-GAAP; Q/Q vs Q2 2026) | Q3 2026 | Down 2%-3% | — | — |
| Net charge-offs | Q3 2026 | ≈$225M | — | — |
FY2026 noninterest income and revenue outlooks exclude integration costs and specified significant items; adjusted expense excludes expected merger and integration costs of ≈$325M and the $140M Foundation contribution. Q3 adjusted expense outlook excludes ≈$50M of expected non-recurring merger and integration costs.
Investor Takeaways
- Q3 results will show whether loan and net interest income growth track the sequential outlook while fee income and adjusted expenses follow their projected declines.
- FY2026 results will test the raised loan, revenue and expense outlooks; credit trends and capital levels remain relevant alongside growth.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3