PNC Financial Services 8-K

PositiveEarnings

FirstBank and commercial loan growth lifted net interest income; lower capital-markets and Visa-related income drove revenue down 5% Q/Q.

Filed 2026-10-15 06:46 ET

Summary

Q3 2026 results. PNC reported $2.10B of net income and $4.97 diluted EPS as higher net interest income and revenue growth were partly offset by lower noninterest income. The board declared a quarterly $2.00-per-share dividend, payable 11/05/2026 to shareholders of record 10/14/2026.

Key Figures

Metric Q3 2026 9M 2026
Net interest income $4.21B, +15% Y/Y $12.3B, +15% Y/Y
Net interest margin 2.94%, vs 2.79% 2.95%, vs 2.79%
Revenue $6.56B, +11% Y/Y $19.6B, +15% Y/Y
Net income $2.10B, +15% Y/Y $5.92B, +19% Y/Y
Diluted EPS $4.97, +14% Y/Y $13.91, +19% Y/Y
Diluted EPS, adjusted (non-GAAP) $5.09 —
  • Q3 revenue fell 5% Q/Q as lower noninterest income—including elevated Q2 capital-markets activity and Visa-related items—more than offset 2% Q/Q net interest income growth. Y/Y, net interest income benefited from commercial loan growth and FirstBank; higher funding costs partly offset that growth.
  • Average loans were $372.2B, +14% Y/Y, and average deposits were $461.2B, +7% Y/Y. Net loan charge-offs were $257M, +44% Y/Y, including $35M from transferring the $1.4B education-loan portfolio to held-for-sale.
  • PNC returned $1.4B to shareholders in Q3: $0.8B in common dividends and $0.6B in share repurchases. Period-end common shares outstanding were 397M vs 392M a year earlier; estimated CET1 capital ratio was 9.8% vs 10.7%.

Guidance

  • Q4 2026 share repurchases expected to approximate Q3 2026 levels.

Investor Takeaways

  • Q4 results will show whether commercial loan growth can continue supporting net interest income as funding costs rise, and how credit costs develop following the education-loan transfer.

The summary is written by an AI model reading the filing.

Model 005 · prompt c016c5fc48 · 2026-10-15 14:35:02Z

Feedback