Wells Fargo 8-K
PositiveEarningsNew guidanceRestructuring
Loan growth, fixed-rate asset repricing and Markets growth lifted net interest income; higher commercial and industrial and auto loan allowances raised provisions.
Filed 2026-10-13 06:28 ET
- 2.02 Results of Operations
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results with 2026 and Q4 net interest income guidance. Wells Fargo reported preliminary net income of $5.95B as revenue grew 2% Y/Y; growth in net interest income and several fee businesses was partly offset by lower trading gains and lease income. Final results may differ materially when reported in the 10-Q.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Total revenue | $21.9B, +2% Y/Y | $65.9B, +6% Y/Y |
| Net interest income | $12.5B, +5% Y/Y | $36.9B, +5% Y/Y |
| Wells Fargo net income | $5.95B, +6% Y/Y | $17.6B, +10% Y/Y |
| Diluted EPS | $1.87, +13% Y/Y | $5.47, +18% Y/Y |
| Return on equity | 13.8%, vs 12.8% | 13.7%, vs 12.4% |
| Return on average tangible common equity (non-GAAP) | 16.3%, vs 15.2% | 16.2%, vs 14.7% |
- Net interest income rose on higher loan and investment securities balances, fixed-rate asset repricing and Markets growth, partly offset by lower rates on floating-rate assets and higher deposit costs. Average loans and deposits each increased 11% Y/Y.
- Noninterest expense was $13.7B, down 1% Y/Y; efficiency initiatives and an 8% headcount reduction helped offset higher revenue-related compensation and technology costs. Provision for credit losses rose 51% to $1.03B, reflecting higher allowances for commercial and industrial and auto loans.
- Wells Fargo repurchased 28.6M shares for $2.5B; period-end shares outstanding fell 5% Y/Y to 3.00B. The dividend increased to $0.50 per share from $0.45 in Q2, with $1.5B in dividends paid. CET1 was 10.0%, down from 10.3% in Q2, as higher interest rates reduced accumulated other comprehensive income.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Net interest income | FY2026 | ≈$50B | — | Reaffirmed |
| Net interest income | Q4 2026 | ≈$13B | — | — |
| Noninterest expense | FY2026 | ≈$55.7B | — | Reaffirmed |
Investor Takeaways
- Watch Q4 net interest income against the ≈$13B outlook and full-year results against the reaffirmed 2026 outlook.
- The upcoming 10-Q will provide final results; the company cautioned they may differ materially from these preliminary figures.
The summary is written by an AI model reading the filing.
Model 005 · prompt 8bef31e277