Wells Fargo 8-K
PositiveEarningsGuidance reaffirmedRestructuring
Lower deposit costs lifted net interest income; stronger venture capital and investment advisory results boosted noninterest income.
Filed 2026-07-14 06:28 ET
- 2.02 Results of Operations
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Q2 2026 results with FY2026 outlook. Wells Fargo reported higher revenue, net income and diluted EPS, supported by growth in both net interest income and noninterest income; preliminary results may differ materially in the final 10-Q. Full-year net interest income and noninterest expense outlooks were unchanged. The company also expects an 11% increase in its Q3 dividend, subject to board approval.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Total revenue | $22.6B | $20.8B | 9% |
| Wells Fargo net income | $6.41B | $5.49B | 17% |
| Diluted EPS | $2.00 | $1.60 | 25% |
| Return on equity | 15.0% | 12.8% | — |
| Return on average tangible common equity, non-GAAP | 17.7% | 15.2% | — |
- Net interest income rose 5% to $12.3B, reflecting lower deposit costs and higher loan and securities balances; noninterest income rose 13% to $10.3B, including stronger venture capital and investment advisory results. The reported quarter included $132M, or $0.04 per share, in discrete tax benefits.
- Noninterest expense increased 2% to $13.7B; efficiency initiatives included a 7% headcount reduction. Net loan charge-offs fell 11% Y/Y to $876M, and nonperforming assets fell $824M Q/Q to $7.9B.
- Repurchased 37.4M shares for $3.0B in Q2; period-end common shares outstanding fell 6% Y/Y to 3,028.5M. The expected Q3 dividend is $0.50 per share, up from $0.45, subject to board approval.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Net interest income | FY2026 | ≈$50B | — | Reaffirmed |
| Net interest income excluding Markets, non-GAAP | FY2026 | ≈$48B | — | — |
| Markets net interest income | FY2026 | ≈$2B | — | — |
| Noninterest expense | FY2026 | ≈$55.7B | — | Reaffirmed |
Net interest income will depend on factors including interest rates and the yield curve, deposit balances and pricing, and loan demand.
Investor Takeaways
- Watch the final Q2 results in the 10-Q; the company cautioned that the preliminary figures may differ materially.
- Track FY2026 net interest income and noninterest expense against the reaffirmed outlook.
- Watch for board approval of the proposed Q3 dividend increase.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3